State of South Dakota  
EIGHTY-SEVENTH SESSION
LEGISLATIVE ASSEMBLY, 2012  

561T0528   HOUSE BILL   NO.  1203  

Introduced by:    Representatives Boomgarden and Jones and Senator Nygaard
 

        FOR AN ACT ENTITLED, An Act to revise auditing requirements for water development districts.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
    Section 1. That § 46A-3D-4 be amended to read as follows:
    46A-3D-4. The fiscal year of the water development district shall coincide with the calendar year. The water development district board at At the close of each year of business in which the district's revenues exceed two hundred fifty thousand dollars, the district board shall obtain an audit by the State Department of Legislative Audit, or an auditor approved by the State Department of Legislative Audit, of the books, records, and financial affairs of the water development district. A written report of the audit shall be kept on file in the principal place of business of the water development district and a copy of the report shall be filed in the Office of the Secretary of State. Notice of availability of the audit report shall be promptly published in the official newspapers of the water development district. A water development district with two hundred fifty thousand dollars or less in annual revenue may submit an annual report in lieu of a formal audit. The report shall be submitted to the auditor-general on forms prescribed by

the Department of Legislative Audit. The auditor-general may audit the books and records of any office or officer of any water development district if it is requested by the district's board of directors or if the auditor-general finds that special reasons exist.