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§ 14-89-1501. Quarterly financial reports

AR Code § 14-89-1501 (2018) (N/A)
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(a)

(1) All improvement districts in any city or incorporated town in this state established for the purpose of making improvements for municipal purposes shall meet at least four (4) times per year or quarterly.

(2) Notice of each meeting, including without limitation each quarterly meeting under this section, shall be given by the improvement district to all record owners of property in the district no more than thirty (30) days before the meeting date and no less than ten (10) days before the meeting date.

(b)

(1) At each quarterly meeting of the improvement district, a financial report shall be included as an item on the agenda.

(2) The financial report shall be provided to any member of the public who requests a copy of the report.

(3) The financial report required under this section shall include without limitation:

(A) Supporting documentation;

(B) Bank statements;

(C) Operating budget;

(D) Projected budget; and

(E) Itemization of revenues and expenditures.

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