§ 326. Reporting. The institute shall provide a report of an audit to
the governor of the state of New York and each house of the legislature
no later than six months following the close of each fiscal year. The
report shall set forth the scope of the audit and include such
statements, together with the independent auditor's opinion of those
statements, as are necessary to present fairly the institute assets and
liabilities, surplus or deficit, with reasonable detail, during the year
including a schedule of all contracts and grants requiring payments in
excess of five thousand dollars and any payments of compensation,
salaries, or fees at a rate in excess of five thousand dollars per
annum.