1. At the first meeting of the board of county commissioners in each year, the board of law library trustees shall make a report to the board on the condition for the past year of the board’s trust, including:
(a) A full statement of all the board’s property and money received, whence derived, how used and how expended.
(b) The number of books, periodicals and other publications on hand.
(c) The number of books, periodicals and other publications added by purchase, gift or otherwise during the year.
(d) The number of books, periodicals and other publications lost or missing.
(e) Such other information as might be of interest.
2. At the same time, a financial report showing all receipts and disbursements of money must be made by the secretary or law librarian if the duty was so delegated.