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 […]
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.
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 […]
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) […]
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 […]
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 […]
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 […]
Any municipality of this state may make financial contributions to any watershed development authority created by special act of the general assembly, where a portion or all of the watershed development administered by such authority lies within the county wherein such municipality is situated, and such municipality is participating directly or indirectly in such development. […]
Any municipality that collects its own property taxes may by ordinance opt to accept partial payments of property taxes. Prior to any municipality accepting partial payment of property taxes, the municipality must file a plan with the comptroller of the treasury. The plan must indicate that the municipality has the accounting system technology to implement […]
The contracting authority for a municipality shall contract with a bank or banks making the best proposal to become the depository of municipal funds. Before entering into a contract under subdivision (a)(1), the contracting authority for a municipality or the contracting authority’s designee shall review and analyze the proposals from the banks. The analysis of […]
Every municipal official handling public funds shall be required to, as soon as practical, but no later than three (3) working days after the receipt by such municipal official of any public funds, deposit the funds to the credit of such municipality’s official bank account, or bank accounts. This requirement shall not prohibit a municipal […]
All expenditures of money made by a municipality must be made for a lawful municipal purpose.
