§ 13-12. Deposit of funds; audits and examinations; financial statement.

(a) Deposits.

The Authority's treasurer must deposit and invest all moneys received by the Authority in one or more financial institutions, consistent with the requirements of State Code Article 95, § 22F {"Local government investment guidelines"}.

(b) Audits.

(1) The Authority must:

(i) maintain adequate books and records; and

(ii) within 90 days after the end of each fiscal year, prepare audited financial statements in accordance with generally accepted governmental accounting principles.

(2) A copy of the audited financial statements must be delivered to the Mayor, the President of the City Council, and the Board of Estimates.

(c) Examination by Board of Estimates.

The Board of Estimates may examine, at any time, the Authority's books, accounts, and records.