§1059.1. Completion, filing and publication of auditor's report and financial statement.

(a) Reports.--The auditors shall complete the annual audit, adjustment and settlement as soon as possible after the end of the fiscal year. The auditors shall, within ten days after completing the annual audit, publish once, in at least one newspaper of general circulation, a concise financial statement setting forth all of the following:

(1) The balance in the treasury at the beginning of the fiscal year.

(2) All revenue received during the fiscal year by major classifications.

(3) All expenditures made during the fiscal year by major functions and the current resources and liabilities of the borough at the end of the fiscal year.

(4) The gross liability and net debt of the borough.

(5) The amount of assessed valuation of the borough.

(6) The assets of the borough with their character and value.

(7) The date of the last maturity of the respective forms of funded debt.

(8) The assets in each sinking fund.

(b) Details.--The auditors shall prepare a report which shall contain an audit of the accounts of the last fiscal year and shall also show a complete statement of the financial condition of the borough, giving in detail all of the following:

(1) The actual indebtedness.

(2) The amount of funded debt.

(3) The amount of floating debt.

(4) The valuation of taxable property in the borough.

(5) The assets of the borough with their character and value.

(6) The date of maturity of the respective forms of funded debt of the borough.

(b.1) Filing of reports and penalties.--The reports shall be prepared no later than 90 days after the close of the fiscal year. It shall be the duty of the secretary of the auditors to file a copy of the report with the secretary of the borough, with the clerk of the court of common pleas of the county or the prothonotary under local rules of court, with the Department of Transportation and with the Department of Community and Economic Development no later than 90 days after the close of the fiscal year. Any secretary of the auditors refusing or willfully neglecting to file the report commits a summary offense. If the failure to file the report within the period specified is due to the failure of any or all of the auditors to prepare the statement upon which the report is to be based, the auditor commits a summary offense.

(c) Service of report.--The secretary of the auditors shall serve, by registered or certified mail, notice to every elected or appointed official against whom a balance or shortage appears in the report required under subsection (b). The notice shall be served prior to the filing of the report and shall indicate the amount of the balance or shortage and a brief description of how the balance or shortage was derived. The notice shall indicate that the balance or shortage is deemed a surcharge under section 1059.3 (relating to surcharge by auditors) and shall apprise the officer served of the right to appeal under section 1059.4 (relating to appeals from audit). Service of notice is complete when the notice is properly addressed, postage prepaid and mailed. Failure to receive the notice required by this subsection shall not constitute grounds for relief from any judgment entered under this chapter.

(d) Presentation.--The annual auditors report and the annual financial statement shall be presented on a uniform form prepared by a committee as provided in Chapter 13 (relating to taxation and finance).