(a) The Authority shall make annual reports to the Governor, and the General Assembly of the State, setting forth in detail its operations and transactions, and may make such additional reports from time to time to the Governor and General Assembly as it may deem desirable.
(b) The Authority shall, at least annually, cause an independent audit of its fiscal affairs to be made and shall furnish a copy of such audit report together with such additional information or data with respect to its affairs as it may deem desirable to the Governor and General Assembly of the State.