Such commission shall have power and authority over the survey, development, control and operation of port facilities and such facilities, operations or things as may be incidental or appurtenant thereto, within such port district, and the co-ordination of the same with existing or future agencies of transportation, with a view to the increase and efficiency of all such facilities and the furtherance of commerce and industries in the district; but nothing contained in this section shall be held to prevent any railroad corporation from building and developing its own facilities and road upon its own property in the district at its own expense. All such construction by a railroad corporation, however, shall conform to the general comprehensive plan of the commission, for port development. It shall make a thorough investigation of port conditions in the district and such other places as it may deem proper and shall prepare a comprehensive plan for the development of port facilities in such district. It shall be provided with an office which shall be located by such commission within the port district and it shall have power to equip the same with suitable furniture and supplies for the performance of the work of the commission. It shall
(1)make an annual report of its proceedings and deliver a copy of the same to the state superintendent of public works, the state engineer and surveyor, the mayor, and the common council of each municipality within the port district, the resident United States army engineer, the chief of engineers of the United States army and the secretary of commerce of the United States;(2) submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee and the state comptroller, within ninety days after the end of its fiscal year a complete and detailed report setting forth: (1) its operations, accomplishments and plans; (2) its receipts and expenditures during such fiscal year and its estimated receipts and expenditures for the current fiscal year in accordance with the categories or classifications established by the commission for its own operating and capital outlay purposes; (3) its assets and liabilities at the end of its fiscal year including the status of reserve, depreciation, special or other funds; and (4) a schedule of its bonds and notes outstanding at the end of its fiscal year, together with a statement of the amounts redeemed and incurred during such fiscal year;(3) submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee and the state comptroller within thirty days after receipt thereof by the commission, a copy of the report of every external examination of its books and accounts other than copies of the reports of such examinations made by the state comptroller.N.Y. Port of Albany Law § 4