Tenn. Code Ann. § 7-56-209: Annual report and audit

(a) The board of directors of the authority shall report annually to the governing bodies of the various counties and cities within the boundaries of the authority. Such reports shall include statements of financial receipts and expenditures and a summary of activities and accomplishments for the period and proposed plans for the next year and for subsequent years.

(b) The board of directors annually shall require an audit to be performed of the authority's operations. Such audits shall meet the requirements placed on county offices by § 4-3-304(4) . When applicable, the cost of such audits shall be borne in the same manner and paid at the same rates established for county government in § 9-3-210 .