The state geological survey shall annually, on or before the first day of January, make to the governor of the state and to the president of the university of Idaho a report detailing major events during the previous year concerning the geology and mineral resources of the state, a report of its expenditures and of the work of said survey during the preceding year, and budget requests for the following year; and it shall make a similar report of its doings and its expenditures to the state legislature through the legislative council.