The recipient of financial assistance from the Program shall submit to the Department quarterly progress reports on the development of a community enhancement project. On or before October 31 each year, the Department shall submit a report to the Governor and, subject to § 2–1257 of the State Government Article, the General Assembly. The report shall include, for the previous fiscal year: the number of applications received; the number and location of community enhancement projects; the financial status of the Program, including the amount and types of financial assistance encumbered and disbursed; and a summary of the quarterly reports submitted under subsection (a) of this section.