§ 3642. Audit and annual reports. 1. In conformity with the provisions
of section five of article ten of the state 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 Erie county legislature, county executive, governor, state
comptroller, chairperson of the senate finance committee, and
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
Erie 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
prepared by an independent certified public accountant, all in
accordance with generally accepted accounting principles applicable to
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 temporary president of the
senate, and the speaker of the assembly and a copy of such report shall
be filed with the clerk of the Erie county legislature and the county
executive.