(1) Following the close of each state fiscal year, the authority shall submit an annual report of its activities for the preceding year to the governor, the speaker of the senate and the speaker of the house of representatives and make the report available to the general assembly. The authority also shall submit an annual report to the appropriate federal agency in accordance with requirements of any federal program.
(2) The annual reports and all books of accounts and financial records of the authority shall be subject to audit annually by the comptroller of the treasury.