Section 1746. Audit, annual and quarterly reports

1. Beginning in nineteen
  hundred ninety and every year thereafter, the  authority  shall,  within
  one  hundred twenty days of the end of the city's fiscal year, submit to
  the governor, the temporary president of the senate, the speaker of  the
  assembly,  the minority leader of the senate, the minority leader of the
  assembly, the chairs of the senate and assembly education committees and
  the chairs of  the  senate  and  assembly  committees  on  corporations,
  authorities  and  commissions,  the  chairman of the senate committee on
  investigations, taxation, and government operations, the chairman of the
  assembly committee on oversight, analysis, and investigations, the mayor
  and the city board a report on its operations during such  fiscal  year.
  An  annual  audit  of the authority shall be conducted by an independent
  certified public accountant, and the authority's  independently  audited
  financial statements shall be included in this report.
    2.  Beginning  in  nineteen hundred ninety, and every year thereafter,
  the authority shall, on the  last  day  of  April,  July,  October,  and
  January,  submit  to  all  persons  set forth in subdivision one of this
  section a report detailing the extent of completion of all projects  for
  construction,  reconstruction, improvement, rehabilitation, maintenance,
  repair, furnishing, equipping of or otherwise providing for  educational
  facilities  for  the  city  board,  including,  by  project,  identified
  shortfalls in schedule performance and providing  explanation  for  such
  shortfalls.  Such  reports  shall  detail  the  extent  of completion as
  existed  on  the  last  day  of  the  month   preceding   each   report,
  respectively.