The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
004
:
FORM AND NATURE OF BONDS AND NOTES
(Cite as: 10 V.S.A. § 639)
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§ 639. Annual reports; audit
(a) On or before the last day of January in each year, the Agency shall submit a report
of its activities for the preceding fiscal year to the Governor and to the General
Assembly, specifically the committees in the House and Senate with jurisdiction over
housing. Each report shall set forth a complete operating and financial statement
covering its operations during the year, including the Agency’s present and projected
economic health, amount of indebtedness, a statement of the amounts received from
funds generated by interest from real estate escrow and trust accounts established
pursuant to 26 V.S.A. § 2214(c), a list and description of the programs to which IORTA funds were provided and the
amounts distributed to each county. The Agency shall cause an audit of its books and
accounts to be made at least once in each year by certified public accountants; the
cost shall be considered an expense of the Agency and a copy shall be filed with the
State Treasurer. The provisions of 2 V.S.A. § 20(d) (expiration of required reports) shall not apply to the report to be made under this
subsection.
(b) The Auditor of Accounts of the State and his or her duly authorized representatives
may at any time examine the accounts and books of the Agency, including its receipts,
disbursements, contracts, sinking funds, investments, and any other matters relating
to its financial statements. (Added 1973, No. 260 (Adj. Sess.), § 3, eff. April 11, 1974; amended 1989, No. 145 (Adj. Sess.), § 3, eff. April 20, 1990; 1991, No. 86, § 3, eff. Jan. 1, 1992; 2007, No. 86 (Adj. Sess.), § 2, eff. March 3, 2008; 2013, No. 142 (Adj. Sess.), § 17.)