Whenever after completion of the works of a district in whole or in part it becomes necessary in the opinion of its board to raise any sum for the operation of its works or for the conduct and management of the district or its works, the board shall prepare and adopt a report showing all the following:

1. (a) The stage to which the works have been completed and paid for.
2. (b) The sums that will be required for the operation of the works or for the conduct or management of the district or its works.
3. (c) Any plans and specifications for any work to be done.
4. (d) An estimate of the aggregate cost of the proposed work.