(1) During the construction/

installation phase of the loan project, the department may require the loan recipient to provide oral or written progress reports.

(2) Upon completion of construction or installation, loan recipients shall provide the department with an accounting of loan expenditures.

(3) Loan recipients shall submit annual reports to the department during the term of their loan on a form provided by the department. Reports must estimate the amount of energy produced by the installed system during the year, provide information about system and component reliability, and provide all financial information required by the department's financial contractor.

(4) Loan recipients shall maintain records, documents, and other information relating to the loan project and shall maintain records sufficient to account for all funds received and expended pursuant to their loan. All records, reports, and other documents that relate to the project are subject to audit by the office of the legislative auditor, the department, and where required by law, the legislative fiscal analyst.