Ohio § 1724.05

§ 1724.05.

Each community improvement corporation shall prepare an annual financial report that

conforms to rules prescribed by the auditor of state pursuant to section 117.20 of the Revised Code , that is prepared according to generally accepted accounting principles, and that

is certified by the board of directors of the corporation or its treasurer or other

chief fiscal officer to the best knowledge and belief of those persons certifying

the report.  The financial report shall be filed with the auditor of state within one hundred

twenty days following the last day of the corporation's fiscal year, unless the auditor

of state extends that deadline.  The auditor of state may establish terms and conditions for granting any extension

of that deadline.  The financial report shall be published on the corporation's web site, or if the

corporation does not have a web site, on the web site of the county in which the corporation

is located. Each community improvement corporation shall submit to audits by the auditor of state,

the scope and frequency of which shall be in accordance with section 117.11 of the Revised Code as if the corporation were a public office subject to that section.  However, a community improvement corporation may request in accordance with section 117.115 of the Revised Code , as if the corporation were a public office subject to that section, the performance

of any of those audits by an independent certified public accountant or firm of certified

public accountants. The auditor of state is authorized to receive and file the annual financial reports

required by this section and the reports of all audits performed in accordance with

this section.  The auditor of state shall analyze those annual financial reports and the reports

of those audits to determine whether the activities of a community improvement corporation

involved are in accordance with this chapter.