§ 4-22-8. Revenue from assessment used to promote dairy industry -- Deposit of funds -- Annual audit of books, records, and accounts -- Annual financial report to producers.

(1) The revenue derived from the assessment imposed by Section 4-22-7 shall be used exclusively for the:

(a) administration of this chapter; and

(b) promotion of the state's dairy industry.

(2)

(a) A voucher, receipt, or other written record for each withdrawal from the Utah Dairy Commission Fund shall be kept by the commission.

(b) No funds shall be withdrawn from the fund except upon order of the commission.

(3) The commission may deposit the proceeds of the assessment in one or more accounts in one or more banks approved by the state as depositories.

(4) The books, records, and accounts of the commission's activities are public records.

(5)

(a) The accounts of the commission shall be audited once annually by a licensed accountant selected by the commission and approved by the state auditor.

(b) The results of the audit shall be submitted to the:

(i) commissioner;

(ii) commission; and

(iii) Division of Finance.

(c) It is the responsibility of the commission to send annually a financial report to each producer.

Amended by Chapter 128, 2004 General Session