§ 239. Reporting requirements. 1. Each funding recipient shall provide an annual financial statement prepared according to generally accepted accounting principles to the commissioner, the speaker of the assembly and the temporary president of the senate.

2. The department shall annually, on or before February first, submit to the governor, the temporary president of the senate and the speaker of the assembly, a report on the activities of the business marketing matching funds program. Such report shall include a summary of the financial statements received by the department from funded entities, a summary of activities conducted and analyses of the effectiveness of the program in stimulating economic growth and job creation.