of their fiscal year.]
(1) Every authority shall file, on or before 180 days
following the end of its fiscal year, an annual report of its
fiscal affairs covering the preceding fiscal year with the
Department of Community and Economic Development and with the
municipality or municipalities creating the authority on
forms prepared and distributed by the Department of Community
and Economic Development. The report shall also be provided,
and may be provided electronically, to any other municipality
that has customers served by the authority. The report shall
also be posted on the authority's publicly accessible
Internet website. If the authority does not maintain a
publicly accessible Internet website, the report shall be
provided by electronic or other means to any other
municipality that has customers served by the authority.
(2) Every authority shall have its books, accounts and
records audited annually by a certified public accountant,
and a copy of his audit report shall be filed in the same
manner and within the same time period as the annual report.
A concise financial statement shall be published annually at
least once in a newspaper of general circulation in the
municipality where the principal office of the authority is
located. If the publication is not made by the authority, the
municipality shall publish such statement at the expense of
the authority. If the authority fails to make such an audit,
then the controller, auditor or accountant designated by the
municipality is hereby authorized and empowered from time to
time to examine at the expense of the authority the accounts
and books of it, including its receipts, disbursements,
contracts, leases, sinking funds, investments and any other
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