On or before October first of each year, a project sponsor shall submit a report to the Commissioner of Energy and Environmental Protection on the unique or outstanding achievements of the project, the progress and problems in reaching the project’s goals and objectives and the value of the project’s accomplishments. The report shall have an accounting for project funds and such other information as the commissioner may require. On or before January first of each year, the commissioner shall submit a report to the Governor and the General Assembly on the achievements of the corps, its status and potential for the future.