The president or his designee shall submit to the board of directors annually for its review and approval a report which: summarizes the corporation's procurement activity for the preceding calendar year, including an identification of any new procurement contracts entered into during the preceding year and a description of the manner in which outside contractors for those new contracts were selected; reflects the status of existing procurement contracts; includes a copy of these guidelines and an explanation thereof and of any amendments thereto since the last such report; and provides any other information required under applicable laws or regulations. Such annual report shall be submitted to the Division of the Budget, the Department of Audit and Control, the Senate Finance Committee and the Assembly Ways and Means Committee and shall be made available to the public on reasonable request.