The department shall:
(1) Have the power to deny any grant award, or portion of such award, made by the board;
(2) Review and monitor expenditures of money from the fund on a periodic basis; and
(3) Submit to the Governor and the Legislature an annual report of all receipts and disbursements of funds, including the recipients, the nature of the program funded, the dollar amount awarded, and the percentage of the total annually available funds the grant represents. The report submitted to the Legislature shall be submitted electronically. The report may be made available to the public upon request.