Alabama § 11-54B-57 - Annual Reports and Audits.
Full text of Alabama Code of Alabama § 11-54B-57 — Annual Reports and Audits., with citation guidance and answers to common questions.
§ 11-54B-57. Annual Reports and Audits.
(a) Within 90 days after the close of each fiscal year, the district management corporation shall make an annual report of its activities for the preceding fiscal year to the governing body of the municipality.
(1) Each annual report shall include, at a minimum:
a. A financial statement for the preceding year, including a balance sheet, statement of income and loss, and such other information as is reasonably necessary to reflect the district management corporation’s actual performance, certified by the treasurer of the corporation.
b. The budget for the current fiscal year.
c. In the case of a district funded by assessments against businesses of a particular class, a list of the businesses of the designated class that are currently operating within the district.
(2) A copy of each annual report shall be sent to the mayor, the city council, and to all property owners, or in the case of districts funded by assessments against businesses of a particular class, business owners of the self-help business improvement district, in each case by first class mail or by personal delivery.
(b) Within 90 days after the close of each fiscal year, the district management corporation shall cause an annual audit of its books, accounts, and financial transactions to be made and filed with the municipality and for that purpose the corporation shall employ a certified public accountant. The annual audit shall be completed and filed with the governing body within four months after the close of the fiscal year of the corporation and a certified duplicate copy of the audit shall be filed with the mayor and the finance director or other financial control officer of the municipality.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-54B-57
What does Code of Alabama § 11-54B-57 cover?
Section 11-54B-57 ("Annual Reports and Audits.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 11-54B-57?
A common citation format is "Code of Alabama § 11-54B-57" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 11-54B-57 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.