(f) The director of the biologic laboratories shall submit to the clerks of the senate and the house of representatives a detailed report of the activities of the laboratories within ninety days after the end of each fiscal year. Said report shall include for the prior fiscal year a description of the patents and licenses received, agreements entered into, the status of existing agreements, royalties and other benefits received as a result of the work of the biologic laboratories, expenditures, current assets and liabilities of the laboratories, one-year and five-year financial plans and identification of current and projected revenues and expenses, anticipated capital expenditures and start-up expenses. Said report shall include an accounting statement detailing the receipts and expenditures, including obligations whether paid or unpaid, of appropriated funds for the prior fiscal year and shall include projections of the amount of appropriated funds required for the next three years.
Pursuant to section twelve of chapter eleven, the department of the state auditor shall conduct an audit of the biologic laboratories, in accordance with generally accepted government auditing standards, as often as the state auditor determines is necessary.