Section 1276-A. Annual audit of authority

The comptroller shall conduct an
  annual audit  of  the  books  and  records  of  the  authority  and  its
  subsidiary  corporations.  Such  audit  shall  include  a  complete  and
  thorough  examination  of  such  authority's  receipts,   disbursements,
  revenues  and  expenses  during the prior fiscal year in accordance with
  the categories or classifications established by such authority for  its
  own operating and capital outlay purposes; assets and liabilities at the
  end   of   its  last  fiscal  year  including  the  status  of  reserve,
  depreciation, special or other funds  and  including  the  receipts  and
  payments  of these funds; schedule of bonds and notes outstanding at the
  end of its fiscal year and  their  redemption  dates,  together  with  a
  statement  of the amounts redeemed and incurred during such fiscal year;
  operations, debt service  and  capital  construction  during  the  prior
  fiscal year.
    The  comptroller,  upon  completion  of such audit, shall within sixty
  days  thereafter,  report  to  the  governor  and  the  legislature  his
  findings, conclusions and recommendations thereof.