8. a. The foundation shall cause an audit of its books and accounts to be made at least once in each year by certified public accountants. The cost thereof shall be considered an expense of the foundation, and a copy thereof shall be filed with the Director of the Division of Budget and Accounting in the Department of the Treasury.

b. The foundation shall prepare and annually submit a report to the Governor, the commissioner, and, pursuant to section 2 of P.L.1991, c.164 (C. 52:14-19.1), to the Legislature, documenting the foundation’s activities during the preceding year, together with any recommendations or requests the foundation deems appropriate to further the purposes of the foundation. The report shall include a complete operating and financial statement covering the operations during the year, a specific short range financing plan for the upcoming year, and a long range financing plan for the next five years.

Within 10 days after the report is submitted to the commissioner pursuant to this subsection, the commissioner shall post a copy of the report on the department’s Internet website.

L.2023, c.256, s.8.