A. Any (i) airport board, commission, authority, or body established pursuant to § 5.1-31 or 5.1-36 or (ii) public use privately owned airport that has received funding from the Department or Board shall keep records of receipts and disbursements thereof, which records shall be open for audit and evaluation by the appropriate state authorities.
B. By August 1 of each year, any (i) airport board, commission, authority, or body established pursuant to § 5.1-31 or 5.1-36 or (ii) public use privately owned airport that has received or disbursed funds from the Department or Board within the prior fiscal year shall submit to the Department a report detailing the purpose for which such funds were received or disbursed. The report shall also list any localities from which such entity receives funds. The Department shall make such report available to the public upon request and shall post such report on the website for the Department. Sensitive financial, personal, or security information contained in the report may be redacted at the discretion of the Department prior to public release. The Department shall send such redacted report to the governing body of any locality from which such airport board, commission, authority, or body receives funds.