Utility Budgeting and Audits

Budgets:

Pursuant to TCA § 9-21, all local goverments and utility districts are required to adopt an annual budget that is sufficient to meet current and expenditure. The annual budget must be on the same basis of accounting as GAAP, and submited to the Comptroller of the Treasury for approval within two months of the beginning of the fiscal year. The Division of Local Government Finance provides oversight and guidance for County, Municipal, and Utility District Budgets. 

Audits:

The Division of Local Government Audit is responsible for the the annual financial and compliance audits of all local government entities with statutory audit requirements. Local Governments are required to publish a financial report within six months of every fiscal year end.