(a) In addition to the requirements set forth in the approved FISCal project documents, the FISCal system shall include a state budget transparency component that allows the public to have information regarding General Fund and federal fund expenditure data, using an Internet Web site, by including all of the following information for each General Fund and federal fund expenditure:
(1) The name and principal location of each entity or other recipient of the funds.
(2) The amount of expenditure.
(3) The type of transaction.
(4) The identity of the state department or agency making the expenditure.
(5) The budget program source for the expenditure.
(6) A brief description of the purpose for the expenditure.
(7) A brief description of any item purchased pursuant to the expenditure.
(b) This section shall not require the disclosure of information deemed confidential or otherwise exempt from disclosure under state or federal law.