1. Not later than October 1 of each year, a county shall prepare an annual financial report showing for each county fund the financial condition as of June 30 and the results of operations for the year then ended. Copies of the report shall be maintained as a public record at the auditor's office and shall be furnished to the director of the department of management and to the auditor of state. A summary of the report, in a form prescribed by the director, shall be published by each county not later than October 1 of each year in one or more newspapers which meet the requirements of section 618.14.
2. Beginning with the fiscal year ending June 30, 1985, the annual financial report required in subsection 1 shall be prepared in conformity with generally accepted accounting principles.
3. The director of the department of management may waive the application of subsection 2 to a county for a one-year period, if evidence is presented that substantial progress is being made towards removing the cause for the need of the waiver. The director shall not grant a waiver for more than three successive years to the same county.
83 Acts, ch 123, § 2, 209; 86 Acts, ch 1245, § 113
Referred to in § 331.431, 333A.4
© 1997 Cornell College and League of Women Voters of Iowa
Last update: Mon Jan 27 16:05:08 CST 1997