Idaho Statutes Title 67. State Government and State Affairs § 67-450D. Independent financial audits--Designated entities

(1) Notwithstanding any other provisions of the Idaho Code relating to audit requirements regarding the entities designated in this section, beginning on July 1, 2021, the requirements set forth in section 67-450B(2), Idaho Code, shall constitute the minimum audit requirements for the following entities:

(2) Federal audit requirements applicable because of expenditure of federal assistance supersede the minimum audit requirements referenced in subsection (1) of this section.

(3) All moneys received or expended by the entities identified in subsection (1) of this section shall be audited by a certified public accountant, designated by the entity, who shall furnish a copy of such audit to the local governmental entities central registry pursuant to section 67-1076, Idaho Code, and to the senate agricultural affairs committee and the house of representatives agricultural affairs committee. The audit shall be completed within ninety (90) days following the close of the commission's fiscal year.

(4) Any entity identified in subsection (1) of this section that is not audited pursuant to the provisions of this section shall submit an unaudited annual statement of revenues, expenditures, and fund balances to the senate agricultural affairs committee and the house of representatives agricultural affairs committee, to the state controller, and to the division of financial management.

(5) The right is reserved to the state of Idaho to audit the funds of the entities identified in this section at any time.