(a) Report.--The auditors shall complete the annual audit, adjustment and settlement as soon as possible after the end of the fiscal year. The auditors shall, within ten days after completing the annual audit, publish once, in at least one newspaper of general circulation, concise financial information prepared or approved by the auditors and consistent with the audited financial statements for total assets, total liabilities and total net position at the end of the fiscal year and total revenue, total expenses and changes in total net position for that fiscal year and a reference to a place within the borough where copies of the financial statements and accompanying audit report may be examined. If the full financial statements and accompanying audit report are not published, copies shall be supplied to the publishing newspaper when the request for publication is submitted.

(b) Details.--The auditors shall prepare a report which shall contain an audit of the accounts of the last fiscal year and shall also show a complete statement of the financial condition of the borough, giving in detail all of the following:

(b.1) Filing of report and penalties.--The report shall be prepared no later than 90 days after the close of the fiscal year. It shall be the duty of the secretary of the auditors to file a copy of the report with the secretary of the borough, with the clerk of the court of common pleas of the county or the prothonotary under local rules of court, with the Department of Transportation and with the Department of Community and Economic Development no later than 90 days after the close of the fiscal year. Any secretary of the auditors refusing or willfully neglecting to file the report commits a summary offense. If the failure to file the report within the period specified is due to the failure of any or all of the auditors to prepare the statement upon which the report is to be based, the auditor commits a summary offense.

(c) Service of report.--The secretary of the auditors shall serve, by registered or certified mail, notice to every elected or appointed official against whom a balance or shortage appears in the report required under subsection (b). The notice shall be served prior to the filing of the report and shall indicate the amount of the balance or shortage and a brief description of how the balance or shortage was derived. The notice shall indicate that the balance or shortage is deemed a surcharge under section 1059.3 (relating to surcharge by auditors) and shall apprise the officer served of the right to appeal under section 1059.4 (relating to appeals from audit). Service of notice is complete when the notice is properly addressed, postage prepaid and mailed. Failure to receive the notice required by this subsection shall not constitute grounds for relief from any judgment entered under this chapter.

(d) Presentation.--The annual auditors report and the annual financial statement shall be presented on a uniform form prepared by a committee as provided in Chapter 13 (relating to taxation and finance).