Section 3.180.020. Financial reports.

	(a)  In addition to the completed application required under 3 AAC 180.010, an applicant that is a municipality must submit to the department its approved municipal budget covering July 1 of the allocation year.  
	(b)  In addition to the completed application required under 3 AAC 180.010 and the information required under (a) of this section,   
		(1) a municipality  
			(A) must submit to the department an audit for the municipality's fiscal year preceding January 1 of the computation year; or  
			(B) must submit to the department an audit or statement of annual income and expenditures approved by the governing body for the municipality's fiscal year preceding January 1 of the computation year if the municipality is a second class city;   
		(2) a community in the unorganized borough must submit to the department a statement approved by the governing body of expenditure of money received under AS 29.60.855 - 29.60.865.  
	(c)  In addition to the requirements of (a) and (b) of this section, a municipality and community located in the unorganized borough must submit to the department, on a form approved by the department, a budget showing the municipality's or community's proposed use of its community revenue sharing payment.  
	(d)  The department will not issue a community revenue sharing payment to an entity for an allocation year until the department has received the applicant's approved budget; audit or statement of annual income and expenditures; statement of expenditure of money; and community revenue sharing budget form in accordance with this section.  
	(e)  The audit prepared under (b)(1) of this section must be reviewed by a certified public accountant licensed under AS 08.04.  

Authorities

29.60.850;29.60.865;44.33.020

Notes

Reference

3 AAC 180.065

Authority

AS 29.60.850 AS 29.60.865 AS 44.33.020

History

Eff. 5/15/2008, Register 186; am 10/8/2008, Register 188