(1) To the extent that independent accounting records are prepared and maintained by the planetarium, the planetarium board of directors shall make, or in the case of a contracting entity, require that there be made, an annual report to the county executive and the county legislative body on the condition and operation of the planetarium, including a financial statement.
(2) The financial statement described in Subsection (1) shall be:
(a) prepared in accordance with generally accepted accounting principles; and
(b) reviewed by the county finance officer, as that term is defined in Section 17-66-101.
(3) The planetarium shall be included in the annual audit of the county conducted by an independent public accountant as required by Title 51, Chapter 2a, Accounting Reports from Political Subdivisions, Interlocal Organizations, and Other Local Entities Act.