(a) The administrator shall prepare and submit to the council an annual report on the operations, financial condition, and activities of the fund and the account that includes, but is not limited to, all of the following:

1. (1) The Wildfire Fund assets and the account assets.
2. (2) Projections for the durability of the fund and the account.
3. (3) Information on claims received and paid.
4. (4) Summary of actions of the council or the administrator.
5. (5) A plan for winding up the fund or the account if projections demonstrate that the Wildfire Fund assets or the account assets will be exhausted within the next three years.

(b)

1. (1) Notwithstanding Section 10231.5 of the Government Code, upon approval of the council, the report shall be submitted no later than August 15 of each year to the appropriate policy committees of the Legislature.
2. (2) The report required by paragraph (1) shall be submitted in accordance with Section 9795 of the Government Code.