[HISTORY: Adopted by the Borough Council of the Borough of
Kittanning 12-18-1967 by Ord. No.
74-1967 (Ch. I, Part 1, Secs. 3 to 9, of the 1970
Code of Ordinances). Amendments noted where applicable.]
Pursuant to 8 Pa.C.S.A. § 1005(7), as amended, of
the Borough Code, an independent auditor shall be appointed annually
by resolution of Council before the close of each fiscal year to make
an independent examination of the accounting records of the Borough
of Kittanning for that fiscal year and to perform the other duties
and exercise the powers imposed and conferred by this chapter and
by law.
The independent auditor shall annually examine, audit and settle
all accounts whatsoever in which the Borough of Kittanning is concerned
and the audit shall consist of an examination in accordance with generally
accepted auditing standards and shall include such tests of the accounting
records and such other auditing procedures as he considers necessary
in the circumstances.
The independent auditor shall audit the accounting records of
the Borough of Kittanning for the fiscal year and shall prepare a
report on the examination which shall set forth:
A.
The scope of this examination;
B.
His opinion of the fairness of the financial statement of said Borough
which shall show a complete statement of the financial condition of
said Borough, giving in detail the actual indebtedness, the amount
of the funded debt, the amount of the floating debt thereof, the valuation
of taxable property therein, the assets of the Borough with the character
and value thereof, and the date of maturity of the respective forms
of funded debt thereof; and
C.
The amount of any balance or shortage or any expenditure of any kind,
or made in a manner prohibited or not authorized by a statute, which
came to his attention during the course of his examination and which,
in his opinion, causes a financial loss to the Borough, which loss
is material in relation to the receipts and disbursements of the Borough.
It shall be the duty of the independent auditor:
A.
To file a copy of his report with the Secretary of the Borough of
Kittanning and the Clerk of Quarter Sessions of the County of Armstrong,
Commonwealth of Pennsylvania, and the Department of Community and
Economic Development, Commonwealth of Pennsylvania, not later than
the 15th day of April; and
B.
To publish within 10 days thereafter, by advertisement in at least
one newspaper of general circulation published in the Borough of Kittanning,
a concise financial statement setting forth the balance in the treasury
at the beginning of the fiscal year, all revenues received during
the fiscal year by major classifications, all expenditures during
the fiscal year by major functions, and the current resources and
liabilities of the Borough of Kittanning at the end of the fiscal
year, the gross liability and net debt of said Borough, the amount
of the assessed valuation of said Borough, the assets of said Borough
with the character and value thereof, the date of the last maturity
of the respective forms of funded debt, and the assets in each sinking
fund. The independent auditor shall make his report on the uniform
form prepared pursuant to 8 Pa.C.S.A. § 1301 et seq. of
the Borough Code. Such publication shall be deemed compliance with
the provisions of the Act of Assembly of June 25, 1941, P.L. 159,
known as the "Municipal Borrowing Law"[1] which requires the corporate authorities of boroughs to
publish an annual statement of indebtedness.
[1]
Editor's Note: Said law, formerly found at 53 P.S. § 6101
et seq., was repealed 7-12-1972 by P.L. 781, No. 185, § 1307(1).
The compensation of the independent auditor shall be determined
by Council of the Borough of Kittanning and the same, together with
the reasonable costs and expenses incurred by said independent auditor
in the filing and publishing of his reports in accordance herewith,
shall be paid out of Borough funds.
The independent auditor shall have all other powers and shall
perform all other duties conferred or imposed upon him by law.
The offices of elected Borough Auditors are hereby abolished.
Each elected Borough Auditor now in office shall continue to hold
office during the term for which elected but shall not audit, settle
or adjust the accounts audited by the independent auditor. However,
such elected auditors shall perform the other duties of office.
