KRS 151B.475: Annual report -- Biennial audit.

The board shall, promptly following the close of each fiscal year, submit an annual report

of its activities for the preceding fiscal year to the Governor and the Legislative Research

Commission. Each report shall set forth a complete operating and financi al statement of

the corporation during the year. The board shall be subject to a biennial audit to be made

by the Auditor of Public Accounts at his discretion, or by a resident independent certified

public accountant of the books, accounts, and records of the corporation, with respect to

its receipts, disbursements, contracts, loans, and all other matters relating to its financial

operations. The persons performing this audit shall furnish copies of the audit report to

the secretary of the Finance and Admin istration Cabinet and the Legislative Research

Commission, where they shall be placed on file and made available for inspection by the

general public.