On or before October 1 of each year, the Maryland Association of Local Management Board Directors shall, in accordance with § 2-1257 of the State Government Article, submit to the Senate Finance Committee, the House Committee on Ways and Means, and the Joint Committee on Children, Youth, and Families, a report summarizing, with respect to the programs implemented under § 8-505(d) of this title: each local management board’s activities; the amount of money spent on the programs; and the effectiveness of the programs.