The Board of Regents shall require employees of the System to provide to the board of trustees of each school district of this State, as appropriate, information regarding the:
1. Number of pupils who graduated from a high school in the district in the immediately preceding year and enrolled in remedial courses in reading, writing or mathematics at a university, state college or community college within the System.
2. Costs incurred by the System in providing remedial instruction pursuant to subsection 1.