The board shall prepare and file:

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1. An annual report to the governor with a detailed statement of the cost of maintaining the school which shows in detail every financial transaction, a complete record of the conditions and work of the school, and including reports by the superintendent and chief medical officer.

2. An estimate for the use of the legislature of appropriations necessary for the support of and for needed improvements to the school, and also a report of the operation of the school for the preceding year.