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. 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 Department of Legislative Audit, or an auditor approved by the 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.
An Act to revise auditing requirements for water development districts.

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I certify that the attached Act originated in the

HOUSE as Bill No. 1203

____________________________
Chief Clerk
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____________________________
Speaker of the House

Attest:

____________________________
Chief Clerk

____________________________
President of the Senate

Attest:

____________________________
Secretary of the Senate

House Bill No. 1203
File No. ____
Chapter No. ______  
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Received at this Executive Office this _____ day of _____________ ,

20____ at ____________ M.


By _________________________
for the Governor
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The attached Act is hereby approved this ________ day of ______________ , A.D., 20___

____________________________
Governor
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STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State

Filed ____________ , 20___
at _________ o'clock __ M.

____________________________
Secretary of State

By _________________________
Asst. Secretary of State