(1) The commission shall prepare and make available an annual report at least thirty days prior to January 1 of each year which shall set forth in detail the income received from the dry bean assessment for the previous year and shall include:
(a) The expenditure of all funds by the commission during the previous year for the administration of the Dry Bean Resources Act;
(b) The action taken by the commission on all contracts requiring the expenditure of funds by the commission;
(c) A description of all such contracts;
(d) Detailed explanation of all programs relating to the discovery, promotion, and development of bean products and industries for the utilization of dry beans, the direct expense associated with each program, and copies of such programs if in writing; and
(e) The name and address of each member of the commission and a copy of all rules and regulations adopted and promulgated by the commission.
(2) The report and a copy of all contracts requiring expenditure of funds by the commission shall be available to the public upon request. Notice of availability of such report shall be provided to the Director of Agriculture, the Clerk of the Legislature, and each grower and first purchaser subject to the checkoff.