Subject to Title 7 of the State Finance and Procurement Article, to carry out the purposes or goals of the Department, the Charlotte Hall Veterans Home may: accept a gift or grant for use at the Charlotte Hall Veterans Home; and unless the terms of a gift or grant require otherwise, and subject to the approval of the Secretary, spend the principal and income of the gift or grant for use at the Charlotte Hall Veterans Home. Gifts and grants that the Charlotte Hall Veterans Home accepts under subsection (a) of this section for use at the Home: shall be administered by the Director of the Veterans Home Program; and are not subject to reversion under § 7–302 of the State Finance and Procurement Article. On or before July 31 of each year, the Director of the Veterans Home Program shall submit a report to the Secretary on the status of the gifts and grants accepted for use at the Charlotte Hall Veterans Home. On or before August 31 of each year, the Secretary shall submit a report to the General Assembly, in accordance with § 2–1257 of this article, on the status of the gifts and grants accepted for use at the Charlotte Hall Veterans Home. The reports required under this subsection shall include the following information on the gifts and grants accepted for use at the Charlotte Hall Veterans Home during the previous fiscal year: the gross amount of the gifts and grants; the costs of administration of the gifts and grants; and a detailed accounting of the use of the gifts and grants.