(a) Board staff shall periodically conduct a comprehensive audit of all educational and general facilities on the campuses of institutions to verify the accuracy of the institutional facilities inventory and facilities development projects for each of those institutions.(b) No later than 30 days after Board staff has presented the Facilities Audit Report to the Board (or appropriate standing committee of the Board), Board staff files a copy of the report with the institution and the Legislative Budget Board.(c) Institutions that conduct regularly scheduled self-audits may be exempted from the on-site review providing that:(1) The institution presents to the Coordinating Board a copy of the formal report of the audit and its documented processes that demonstrate the accuracy of the data; and(2) confirmation that the review includes consideration of the facilities audit objectives stated in §17.111 of this title (relating to Facilities Audit Objectives).