The state forester shall report annually to the board of university and school lands the nature of the improvements, the conditions of the forest, the number of trees cut and the disposition thereof, the proceeds derived from the sale of forest products and the disposition thereof, the amount of forest products undisposed of, and all expenses paid or incurred. The state forester shall also report such other matters pertaining to said lands as the board of university and school lands may require. Such report must be made with respect to each separate school section so controlled by the state forester.