(a) As used in this subchapter:
(1) "Audit" means a financial audit, performance audit, information technology audit, review, report of agreed-upon procedures, compilation, examination, investigation, or other report or procedure approved by the Legislative Joint Auditing Committee for an entity of the state or a political subdivision of the state;
(2) "Entity of the state" means the State of Arkansas as a whole or any department, institution of higher education, board, commission, agency, quasi-public organization, official, office, or employee, or any agency, instrumentality, or function thereof;
(3) "Financial audit" means a systematic examination of the financial statements of an entity and the related supporting evidence for the purpose of expressing an opinion on the fairness with which they present, in all material respects, financial position, results of operations, and its cash flows in conformity with accounting principles generally accepted in the United States, another comprehensive basis of accounting, or a regulatory basis, as applicable;
(4) "Other funds" means any funds or assets held by a person, foundation, nonprofit corporation, or any other entity for the specific benefit of a particular entity or entities of the state or political subdivision of the state;
(5) "Political subdivision of the state" means any county, municipality, school, quasi-public organization, district, official, office, or employee, or any agency, instrumentality, or function thereof;
(6) "Public funds" means any funds, moneys, receivables, grants, investments, instruments, real or personal property, or other assets, liabilities, equities, revenues, receipts, or disbursements belonging to, held by, or passed through an entity of the state or a political subdivision of the state; and
(7) "School" means any public school district, charter school, or education service cooperative, or any publicly supported entity having supervision over public educational entities.
(b) The definitions in this subchapter are limited to this subchapter only, and shall not be used or interpreted as applying to the Freedom of Information Act of 1967, § 25-19-101 et seq.
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