The president and trustees of a municipal university in a city of the first class shall annually report to the mayor and the board of aldermen of the city what they do under the provisions of KRS 165.080 to 165.130, and account for all funds received by th em. An annual report and audit of receipts and disbursements of funds received by the university under KRS 165.030 to 165.050 shall be made in addition to other reports required by its charter.
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