I. Within 4 months after the close of the second fiscal year of the corporation and biennially thereafter, it shall make a report to the governor and council of its activities for both preceding fiscal years and such report shall set forth a complete operating and financial statement covering the corporation's operations during the 2 preceding fiscal years including a complete and detached report setting forth: (a) Its operations and accomplishments; (b) Its receipts and expenditures during each preceding fiscal year in accordance with the categories or classifications established by the corporation for its operating and capital outlay purposes; (c) Its assets and liabilities at the end of each preceding fiscal year; and (d) A schedule of its bonds and notes outstanding at the end of each preceding fiscal year, together with a statement of the amounts redeemed and incurred during each preceding fiscal year. II. The corporation shall cause an audit of its books and accounts to be made at least once each second fiscal year by certified public accountants and the cost thereof shall be paid by the corporation from funds available to it pursuant to this chapter.
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