§ 326. Reporting. The institute shall provide a report of an audit to\nthe governor of the state of New York and each house of the legislature\nno later than six months following the close of each fiscal year. The\nreport shall set forth the scope of the audit and include such\nstatements, together with the independent auditor's opinion of those\nstatements, as are necessary to present fairly the institute assets and\nliabilities, surplus or deficit, with reasonable detail, during the year\nincluding a schedule of all contracts and grants requiring payments in\nexcess of five thousand dollars and any payments of compensation,\nsalaries, or fees at a rate in excess of five thousand dollars per\nannum.\n
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