The commission shall report to the Legislature, by January 1 of each year, all of the following:
(1) The number of applicants approved in the previous fiscal year.
(2) The number of applicants approved as of the reporting date of the current fiscal year.
(3) The number of recipients, by the number of remaining academic terms for which they may be eligible for the scholarship.
(4) The cost of the previous fiscal year’s expenditures to the program, arranged by each participating institution and the number of recipients who are enrolled with each participating institution.
(5) The number of recipients in the previous fiscal year who completed an approved postsecondary program by being awarded a certificate or a degree.