Section 17: Annual reports
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Section 17. The board, in cooperation with the state treasurer, shall, at all times keep full and accurate accounts of all receipts, expenditures and disbursements from the fund and all assets and liabilities of the trust which shall be open to inspection by any officer or duly appointed agent of the commonwealth. The trust shall submit an annual report, in writing, to the governor, the department and the clerk of the house of representatives who shall forward the same to the president of the senate, the speaker of the house of representatives, the chairman of the senate committee on ways and means and the chairman of the house committee on ways and means.
Said report shall include financial statements relating to the operations, properties, and expenditures of the trust maintained in accordance with generally accepted accounting principles so far as applicable and audited by an independent certified public accountant firm.