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Fuge 16 997 <br /> S . B . NO . . 1 <br /> 1 (7) Submit its annual budget with respect to a transferred <br /> 2 facility to the counties for review no later than <br /> thirty days before the mayors of the county submits <br /> their annual budget to the council. <br /> 5 546-1 Annual audit and report; disclosure of revenue <br /> projections; internal performance audit. (a) The private <br /> 7 entity or its nonprofit management entity to which one or more <br /> 8 of the facilities of the county wastewater system has been <br /> 9 transferred to shall engage a certified public accountant to <br /> 14 conduct an annual audit of its financial affairs, books, and <br /> 11 records in accordance with generally accepted accounting <br /> 12 principles. The private entity or its nonprofit management <br /> 13 entity may retain an audit firm to conduct an independent audit <br /> 14 of the entity. Each private entity or its nonprofit management <br /> 15 entity must submit to the governor and the legislature, within <br /> 16 one hundred fifty days after the close of its fiscal year that <br /> 17 shall include the audited financial report. <br /> 18 (b) In addition to the submittal of the audit required <br /> 19 under subsection (a) , the private entity or its nonprofit <br /> 20 management entity shall submit a report to the legislature at <br /> 2021-1502 SB997 SD1 SMA.doc 16 <br /> III�III/IIIfIII��� NIII� I��NI�IIIINIIINl �9� ��nN <br />