Article 2. Settlements And Statements of California Water Code >> Division 11. >> Part 8. >> Chapter 1. >> Article 2.

On the first Monday in each month the collector shall do all of the following:
  (a) Settle with the secretary for all money collected for assessments during the month next preceding.
  (b) Pay the money to the treasurer.
  (c) File in the district office with the secretary the receipt of the treasurer for the money paid.

The collector shall be credited in his settlement with both:
  (a) The amount due to the district on property he sells to the district for delinquent assessments.
  (b) The amount by which any assessment is canceled or modified by order of the board.

Within six days after he settles with the secretary, the collector shall file in the district office with the secretary a statement under oath, showing:
  (a) An account of all his transactions and receipts during the period for which the settlement was made.
  (b) Payment to the treasurer of all money collected by him as collector during the period for which the settlement was made except redemption money held for assignees of certificates of sale.
  (c) The respective sums of redemption money held by him for assignees of certificates of sale and the names of the persons entitled to receive this money if known to him.

The treasurer shall not later than the third Monday in each month file in the district office with the secretary a verified written report to the board showing all of the following:
  (a) The amount of money in the district treasury at the close of the month next preceding.
  (b) The amount of receipts for the month next preceding.
  (c) The amount and items of expenditures for the month next preceding.

The board, on or before its regular monthly meeting in the fourth month of its fiscal year, shall render a verified statement of the financial condition of the district showing particularly all of the following:
  (a) Revenues of the next preceding year and their sources: amounts received (cash basis) or amounts received and receivable which increase the equity of the governmental unit (accrual basis).
  (b) Expenditures of the next preceding year and their purposes: amounts paid (cash basis) or amounts paid and payable which decrease the equity of the governmental unit (accrual basis).
  (c) The accounting method used (cash or accrual basis).
  (d) A statement of the accounting method used for the preceding accounting period.

Notification that the annual financial statement is available for inspection and review shall be made at least once a week for two weeks in a newspaper published in the county in which the principal office of the district is located.