§ 38-54. Financial statements and audit reports.

(a)

The authority shall establish a fiscal year for its operation, and as soon after the end of each fiscal year as is feasible, the authority shall cause to be prepared and printed a report and financial statement of the authority's operations for the fiscal year just ended and of its assets and liabilities. A copy of such report shall be sent to the governing authority of Cobb County and to the governing authority of such municipality located therein, and additional copies shall be made available for distribution to the general public on written requests therefor.

(b)

The authority shall appoint in due time each year a firm of independent certified public accountants as auditors who shall examine the books, records and accounts of the authority for the purpose of auditing and reporting upon its financial statement for such year. The report of such auditors shall be appended to such financial statement.

(c)

Whenever the authority deems it necessary or advisable, it shall be authorized to employ a firm of qualified independent engineers to survey the condition of the authority's facilities and operations from an engineering standpoint and make a report thereof together with its recommendations for improvement in its physical facilities and operating procedures. A copy of such report shall be sent to the governing authority of Cobb County and to the governing authority of each municipality located therein, and additional copies shall be made available for distribution to the general public on written requests therefor.

(1951 Ga. Laws (Act No. 319), page 497, § 26A; 1965 Ga. Laws (Act No. 285), page 2762, § 7)