§ 166. Reporting requirements. (a) In accordance with generally
accepted accounting principles each tourism promotion agency shall
furnish an annual financial statement to the commissioner. Such reports
shall be submitted on or before January first of each year.

(b) The department shall annually, on or before March first, submit to
the governor, the temporary president of the senate and the speaker of
the assembly, a report on the activities of the matching funds program.
Such report shall include a statement of the guidelines promulgated by
the department pursuant to section one hundred sixty-one of this
article, a summary of the financial statements received by the
department from tourist promotion agencies, a summary of activities
conducted by the tourist promotion agencies and analyses of the
effectiveness of the matching funds program in stimulating tourist
promotion and recommendations concerning the future organization,
implementation and improvement of the matching funds program.