(a)      On or before the 10th day of each regular session of the General Assembly, the Comptroller shall submit to the Governor and, subject to § 2-1246 of the State Government Article, to the General Assembly an annual report on the fiscal operations of the State.

      (b)      The report shall state:

            (1)      for the fiscal year in which the report is made:

                  (i)      the estimated State revenues; and

                  (ii)      the estimated State expenditures; and

            (2)      for the preceding fiscal year:

                  (i)      the total State funds;

                  (ii)      the total State revenues;

                  (iii)      the amount of revenues that the State received from each source;

                  (iv)      the total State expenditures;

                  (v)      the purposes of the expenditures;

                  (vi)      each amount that the State claims is due from a political subdivision;

                  (vii)      each amount that the State claims is due from an officer of a political subdivision who, by law, collects revenues for the State;

                  (viii)      the total funds, from all State sources, that the State transferred to each political subdivision; and

                  (ix)      the amount of those transferred funds, as calculated for each $100 of assessed value of property in a political subdivision.