It is hereby the duty of the Accounting Division under the supervision of the Secretary of the Land Office to submit to the Commissioners of the Land Office a monthly statement of all operational expenditures of the Land Office. The Secretary shall, not later than the fifth day of each regular session of the Legislature, submit a detailed financial statement to the Governor and to the Legislature for the preceding fiscal year ending June 30 reflecting all assets and liabilities owned and held by the Land Office at the close of the period, profits made and losses sustained, together with a detailed schedule of all lands, loans, bonds, and coupons, contracts and judgments owned and held by the Land Office.