Citations Affected: IC 13-18.
Synopsis: Water authority audits. Requires a nonprofit water utility
that is reconstituted as a water authority to have an annual audit by a
certified public accounting firm and to keep the audit report on file.
Provides that the water authority is not subject to audit or examination
by the state board of accounts, to the examination guidelines and
reporting requirements of the state board of accounts, or to certain
statutes that apply to political subdivisions.
Effective: July 1, 2006.
January 4, 2006, read first time and referred to Committee on Utilities and Energy.
January 19, 2006, reported _ Do Pass.
A BILL FOR AN ACT to amend the Indiana Code concerning
with the secretary of state. When the secretary of state receives a copy
of a resolution under this subsection, the secretary of state shall
dissolve the corporate status of the nonprofit water utility for purposes
of state law.
(f) A water authority constituted under this section shall:
(1) remain obligated under any existing contracts or agreements; and
(2) remain obligated and assume the indebtedness;
of the nonprofit water utility.
(g) Notwithstanding any other law and subject to
subsections (h) and (i), a water authority constituted under this section
is subject only to the laws applicable to nonprofit water utilities and
local water corporations and is not subject to the following:
(1) IC 5-3.
(2) IC 5-4-1.
(3) IC 5-11.
(4) IC 5-13.
(5) IC 5-14-1.5.
(6) IC 5-14-3.
(7) IC 5-22.
(8) IC 36-1-8.
(9) IC 36-1-10.
(10) IC 36-1-10.5.
(11) IC 36-1-11.
(12) IC 36-1-12.
(13) IC 36-1-15.
(h) A water authority constituted under this section is subject to IC 8-1.5-3-8 for purposes of setting rates and charges.
(i) For each fiscal or calendar year of a water authority constituted under this section that ends after December 31, 2006, the water authority:
(A) have an audit of its financial records performed by an independent certified public accounting firm; and
(B) keep the audit report on file at the water authority; and
(2) notwithstanding IC 5-11-1-9, is not subject to the following:
(A) Audit or examination by the state board of accounts.
(B) The examination guidelines and reporting requirements of the state board of accounts.