The Mount Pilot Airport Authority is governed by a seven-member board. Four of the board members are appointed by the town of Mount Pilot and the remaining three are appointed by the governing board of Griffith County. Neither the town nor the county share in any profits, nor are required to fund any deficits, of the Authority. The town, however, does approve the Authority's proposed budget. The county may make budgetary recommendations to the Authority, but they are not required to approve the proposed budget. The Authority should be reported as

Question

Quizplus · Accepted Answer

The Authority should be considered a discretely presented component unit of the town because the town has a higher degree of involvement with the Authority, including the appointment of the majority of the board members and the approval of the Authority's budget, which indicates a closer relationship with the town than with the county.

The Mount Pilot Airport Authority Is Governed by a Seven-Member