Senate Bill No. 716
(By Senators Caruth, Guills, Weeks, Sprouse, Barnes, Yoder, White
and Fanning)
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[Introduced February 20, 2006; referred to the Committee
on Government Organization; and then to the Committee on
Finance.]
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A BILL to amend and reenact §17-16A-26 of the Code of West
Virginia, 1931, as amended, relating to an annual legislative
audit of the parkways authority; and requiring the parkways
authority to provide certain information.
Be it enacted by the Legislature of West Virginia:
That §17-16A-26 of the Code of West Virginia, 1931, as
amended, be amended and reenacted to read as follows:
ARTICLE 16A. WEST VIRGINIA PARKWAYS, ECONOMIC DEVELOPMENT AND
TOURISM AUTHORITY.
§17-16A-26. Annual report; audit.
(a) The parkways authority shall prepare on an annual basis
and provide to each member of the West Virginia Legislature who so
requests an annual report detailing the financial condition and operations of the parkways authority. The parkways authority shall
provide to the Joint Committee on Government and Finance any
financial statements as may be required under any trust agreement
to which the parkways authority is a party.
(b) Each year, the parkways authority shall file with the
Legislative Auditor's office a full and complete accounting of its
activities, including the collection of all revenues, expenditures
liabilities, assets, bonds and disbursement of funds, including
funding for economic development projects. The Legislative Auditor
shall conduct an annual audit of the information provided by the
parkways authority and the audit report of the Legislative Auditor
shall provide the results to each member of the Legislature
requesting a copy.
NOTE: The purpose of this bill is to require the parkways
authority to provide a full financial accounting on an annual basis
to the Legislative Auditor. The Legislative Auditor is required to
audit the information provided and make copies available to the
members of the Legislature.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.