Alabama § 11-54B-96 - Annual Reports and Audits.
Full text of Alabama Code of Alabama § 11-54B-96 — Annual Reports and Audits., with citation guidance and answers to common questions.
§ 11-54B-96. 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, all of the following:
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 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 whose purpose is to increase tourism, a list of the businesses in the designated class that are currently operating within the district.
(2) A copy of each annual report shall be sent to the mayor, the members of the governing body of the municipality, and to all district members.
(b)(1) The district management corporation shall have its books, accounts, and financial transactions annually audited by a certified public accountant.
(2) The audit shall be performed within 90 days of the close of each fiscal year.
(3) Certified copies of the audit report shall be filed within 120 days after the close of the fiscal year with the governing body of the municipality, 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-96
What does Code of Alabama § 11-54B-96 cover?
Section 11-54B-96 ("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-96?
A common citation format is "Code of Alabama § 11-54B-96" (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-96 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.