KRS 99.180: Reports to supervising agency -- Reserves -- Accounts.

A redevelopment corporation shall:

(1) Furnish to the supervising agency from time to time, as required by it, but with

respect to regular reports not more often than once every six (6) months, such

financial information, statements, audited reports or ot her material as such

supervising agency shall require, each of which shall conform to such standards of

accounting and financial procedure as the supervising agency may by general

regulation prescribe.

(2) Establish and maintain such depreciation and othe r reserves, surplus and other

accounts as the supervising agency may reasonably require.