Section 35-20-6 - Annual report(a) To ensure that the requirements of this section are fully complied with, each public corporation shall prepare and submit a report on the adequacy of the corporation's systems of internal accounting and administration control by December 31 of each year.(b) The report, including the state agency's response to report recommendations, shall be signed by the chairperson and/or the chief executive officer of the corporation and addressed to the governor. Copies of the reports shall be forwarded to both houses of the legislature, the auditor general, and the director. Copies of these reports shall also be forwarded to the state library where they shall be available for public inspection.(c) By September 30, 1995, the director, in consultation with the auditor general and the controller, shall establish a system of reporting and a general framework to guide the public corporations in performing evaluations on their systems of internal accounting and administrative control. The director, in consultation with the auditor general and the controller, may modify the format for the report or the framework for conducting the evaluations from time to time as deemed necessary.(d) Any material inadequacy or material weakness in systems of internal accounting and administrative control which prevents the chair and/or chief executive officer of the corporation from stating that the systems of internal accounting and administrative control provided reasonable assurance that each of the objectives specified above was achieved shall be identified and the plans and schedule for correcting the inadequacy described in detail.(e) The annual report of each public corporation shall also include financial statements relating to the operation, properties, income, expenditure, assets, and liabilities, including outstanding bonded indebtedness, of the corporation.