Colorado § 23-3.1-221 - Account of activities - receipts for expenditures - report - audit.
Full text of Colorado Colorado Revised Statutes § 23-3.1-221 — Account of activities - receipts for expenditures - report - audit., with citation guidance and answers to common questions.
§ 23-3.1-221. Account of activities - receipts for expenditures - report - audit.
The authority shall keep an accurate account of all its activities and of all its receipts and expenditures and shall report annually on such activities, receipts, and expenditures in the month of February to its members, to the governor, to the commission, and to the state auditor in a form prescribed by the controller. Also included in the report shall be any recommendations with reference to additional legislation, a financial analysis of the actuarial soundness of the prepaid expense trust fund if one was prepared, an accounting of any loans or transfers approved pursuant to section 23-3.1-205.4 (4), and other action that may be necessary to carry out the purposes of the authority. The state auditor may investigate the affairs of the authority and may examine the properties and records of the authority, and the controller may prescribe methods of accounting and the rendering of periodical reports in relation to undertakings by the authority. The department of higher education shall adopt and prepare a budget for the authority for the next fiscal year. Beginning July 1, 2000, the fiscal year of the authority shall begin on July 1 and shall end on June 30. The authority shall not be required to comply with fiscal rules of the state of Colorado until July 1, 2000.
Source: L. 79: Entire article added, p. 822, § 1, effective July 1. L. 81: Entire section amended, p. 341, § 5, effective March 29; entire section amended, p. 1091, § 4, effective May 28. L. 96: Entire section amended, p. 430, § 11, effective April 22. L. 2000: Entire section amended, p. 1286, § 14, effective May 26. L. 2003: Entire section amended, p. 552, § 2, effective August 6. L. 2004: Entire section amended, p. 572, § 22, effective July 1.
Editor's note: Amendments to this section in House Bill 81-1215 and House Bill 81-1020 were harmonized.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 23-3.1-221
What does Colorado Revised Statutes § 23-3.1-221 cover?
Section 23-3.1-221 ("Account of activities - receipts for expenditures - report - audit.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. 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 Colorado § 23-3.1-221?
A common citation format is "Colorado Revised Statutes § 23-3.1-221" (Colorado). 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 Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 23-3.1-221 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado 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 Colorado.