B.__A letter of transmittal;

C.__The independent auditor's report on the financial statements; and

D.__All financial statements required by governmental accounting and financial reporting standards.

2.__Copies for distribution.__Copies of the report must be deposited in the county commissioners' office or a convenient place of business for distribution to the public and must be distributed to each municipality in the county.

3.__Copies open for inspection.__Copies of the report and all county records must be kept in the county commissioners' office and must be open to the inspection of the public during usual business hours.

Sec. 5. 30-A MRSA §5823, sub-§3, ķA, as repealed and replaced by PL 1997, c. 142, §1, is amended to read:

A. The report must contain the following items:

(1) A management letter, if applicable;

(2) A letter of transmittal;

(3) The independent auditor's report on the financial statements; and

(4) Financial statements that contain at a minimum: All financial statements required by governmental accounting and financial reporting standards.

(a) A balance sheet;

(b) A statement of revenues and expenditures;

(c) A statement of budgeted revenues and expenditures versus actual revenues and expenditures; and

(d) All other financial statements required by governmental accounting and financial reporting standards.