The trustees of the Venture Capital Investment Trust shall publish an annual report within five (5) months after the close of each fiscal year that shall:
(1) Include an annual audit of the Arkansas Venture Capital Development Fund's activities conducted by the trustees with the assistance of the review committee;
(2) Be presented in writing, and by testimony if requested, to the: Governor;
(3) House Committee on Agriculture, Forestry, and Economic Development;
(4) Senate Committee on Agriculture, Forestry, and Economic Development;
(5) Arkansas Development Finance Authority; and
(6) Arkansas Economic Development Commission; and
(7) Document and review the progress of the trustees of the trust and the review committee in implementing the investment and financial assistance activities under this subchapter.