Section 10-110 - Audit; reports(a) The books and records of the Trust are subject to audit: (1) by the State, at the State's discretion; and(2) annually by an independent auditor approved and paid by the Trust.(b)(1) Within the first 90 days of each fiscal year, the Board shall report to the Governor and, subject to § 2-1257 of the State Government Article, to the General Assembly.(2) The report shall include a complete operating and financial statement of the operations of the Trust and a summary of the activities of the Trust during the preceding fiscal year.