§ 6-56-204. Municipal School Budget
The municipal school budget submitted by the board of education to the governing body shall include estimates of school revenues, as well as estimates of expenditures necessary for the operation of the school system for the next fiscal period. The governing body shall have no authority to modify or delete any item of the school […]
§ 6-56-205. Excess Appropriations Prohibited — Emergencies
The governing body shall not make any appropriations in excess of estimated available funds, except to provide for an actual emergency threatening the health, property or lives of the inhabitants of the municipality and declared by a two-thirds (2/3) vote of all members of the governing body present, when there is a quorum.
§ 6-56-102. Responsibility of Municipal Officers for Audit
The duties placed upon the board in § 6-56-101 shall devolve upon the officers of every municipal corporation having power to provide and enact ordinances for the corporation.
§ 6-56-103. Taxpayers Compelling Audit
If two (2) years lapse without the audit provided for in §§ 6-56-101 and 6-56-102 being made, any ten (10) persons over eighteen (18) years of age, who have paid taxes to such municipal corporation during the two-year period for which no audit has been made, may file a written demand for such an audit […]
§ 6-56-104. Audit as Public Record — Publication
The result of each audit provided for in §§ 6-56-101 — 6-56-103 shall be kept as a public record of the corporation, and shall be always subject to the inspection of each citizen or taxpayer of the corporation. A summary of the audit, prepared by the auditor, shall be published in at least one (1) […]
§ 6-56-105. Audit of Subordinate Agencies
The governing body of each municipality shall cause an annual audit to be made of the accounts and records of all departments, boards, and agencies under its jurisdiction that receive and disburse funds. The audit shall include, but not be limited to, general funds, highway funds, school funds, public utilities and municipal courts. The comptroller […]
§ 6-56-106. Authorized Investments
In order to provide a safe temporary medium for investment of idle funds, municipalities are authorized to invest in the following: Bonds, notes or treasury bills of the United States; Nonconvertible debt securities of the following federal government sponsored enterprises that are chartered by the United States congress; provided, that such securities are rated in […]
§ 6-56-107. Selection of Bonds for Investment
For the purpose of carrying out § 6-56-106, the governing body of the municipality may appoint a committee with authority to act in the premises and, unless the governing body shall designate the specific series of bonds in which such funds shall be invested, the selection of the series for investment of such funds as […]
§ 6-56-101. Biennial Audit Required
It is the duty of the governing board of every municipal corporation to have a thorough audit of the financial affairs of the corporation, including all receipts from every source and every expenditure or disbursement of the money of the corporation, made by a disinterested person skilled in such work, as often as every two […]