On or before September 1 of each year, the authority shall submit an annual report of its activities for the preceding fiscal year to the governor, the president of the senate, the speaker of the house of representatives and the state treasurer. The report shall set forth a complete operating and financial statement of the authority during such year. The report shall include outstanding amounts of pledges made and cash contributions received against pledges. The authority shall cause an audit by an independent certified public accountant of its books and accounts to be made each fiscal year.
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