Sec. 216. Audits; reports to President and Congress
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The books of account of the Bank shall be— maintained in accordance with generally accepted accounting principles as used in the United States; and subject to an annual audit by independent public accountants of nationally recognized standing, to be appointed by the Board. Not later than 90 days after the end of each fiscal year, the Board shall submit to the President and Congress a complete and detailed report with respect to the preceding fiscal year that describes— a summary of the operations of the Bank; a schedule of the obligations of the Bank that are outstanding at the end of that preceding fiscal year, with a statement of the amounts issued and redeemed or paid during that preceding fiscal year; and the status of infrastructure projects that have received funding or other assistance pursuant to this Act, including disclosure of all entities with a development, ownership, or operational interest in those infrastructure projects.
Not later than 5 years after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report evaluating activities of the Bank that includes an assessment of the impact and benefits of each funded infrastructure project, including a review of how effectively each infrastructure project accomplished the goals prioritized by the project criteria of the Bank. The Bank shall maintain adequate books and records to support the financial transactions of the Bank with a description of financial transactions and infrastructure projects receiving funding, and the amount of funding for each infrastructure project maintained on a publicly accessible database.
The Bank shall provide a period of not less than 30 days for public comment on each infrastructure financing agreement posted on the database referred to in paragraph
(1)before providing final financing for the infrastructure project. The books and records of the Bank shall be open to inspection by the Secretary and the Comptroller General of the United States.