(a)
(1) The commissioners shall have the authority to adopt such rules and regulations as they may deem necessary and expedient for the proper operation and management of the hospital and shall have the authority to alter, change, or amend the rules and regulations at their discretion.
(2) The commissioners shall have the right to adopt and enforce standards for the operation and management of the hospital including the right to apply for and accept membership in accredited hospital societies and organizations and to comply with, and enforce compliance with, the rules and regulations thereof. However, nothing contained in this subsection shall be construed to authorize the adoption of standards less than the minimum standards required by the laws of the State of Arkansas for the operation or management of hospitals coming under the provisions of this chapter.
(b)
(1) The commissioners shall submit reports, beginning three (3) months after they take their oath of office and thereafter at such periods as the city council may direct, reporting in full on the construction and operations, including an accounting of receipts and disbursements, to the mayor and city council. They shall furnish such other and further reports, data, and information as may be requested by the mayor or city council.
(2) The reports to the mayor and city council with respect to receipts and disbursements shall be certified by the commissioners as correct.
(3) The commissioners shall further submit an annual audit of the operations of the hospital to the mayor and city council. The fiscal year shall be determined by the mayor and city council.