(a) The director of the department of audit or his designee shall audit the trust fund created by W.S. 9-2-2304 biennially.
(b) The board shall annually report to the governor, the joint appropriations interim committee and the joint travel, recreation, wildlife and cultural resources interim committee no later than October 1 with respect to all:
(i) Federal grants, state appropriations and other contributions, grants, gifts, bequests and donations received and credited to the Wyoming cultural trust fund during the preceding fiscal year; and (ii) Grants awarded by the board to nonprofit and governmental cultural, historical and arts organizations.