§ 3416. Audit and annual reports. 1. In conformity with the provisions
of section five of article ten of the constitution, the accounts of the
corporation shall be subject to the supervision of the state comptroller
and an annual audit shall be performed by an independent certified
public accountant. The corporation shall annually submit to the county
legislature, county executive, governor and the state comptroller and to
the chairperson of the senate finance committee and the chairperson of
the assembly ways and means committee a detailed report pursuant to the
provisions of section twenty-eight hundred of this chapter, and a copy
of such report shall be filed with the clerk of the county legislature
and the county executive.

2. The corporation shall report on an annual basis the following
information: the name, principal business address and principal business
activities of each subsidiary of the corporation; the name of all board
members and officers of each subsidiary; the number of employees of each
subsidiary; a list of all contracts in excess of one hundred thousand
dollars entered into by the corporation and its subsidiaries identifying
the amount, purpose and duration of such contract; and a financial
statement, income statement, and balance sheet performed by an
independent certified public accountant all in accordance with generally
accepted accounting principles of the corporation and each of its
subsidiaries. At the time the reports required by subdivision one of
this section are submitted, such reports shall be provided to the
governor, the speaker of the assembly, the temporary president of the
senate and a copy of such report shall be filed with the clerk of the
county legislature and the county executive.