1. (a) Before March 1 of each year, the Annapolis Authority shall submit an audit of its books and records to the Mayor of Annapolis and City Council of Annapolis.

2. (b) The audit shall:

   1. (1) be performed in accordance with the federal Single Audit Act, 31 U.S.C. §§ 7501-7507;
   2. (2) follow generally accepted governmental auditing standards; and
   3. (3) be performed by an independent certified public accountant approved by the Annapolis Authority and by federal authorities.

Added by Acts 2006, c. 63, § 2, eff. Oct. 1, 2006.