Section 98. It shall be the duty of the board (a) to survey the direct and contingent debt requirements of the commonwealth in all its aspects, the direct debt of state authorities as defined by section one of chapter twenty-nine and the direct debt of the regional transit authorities, at least quarterly; (b) to furnish on December thirty-first and June thirtieth of each year, the governor and council, the state treasurer and the general court, through its committees on ways and means, with its recommendations and analysis on the following aspects of the commonwealth’s financial structure:

(1) the affordability and condition of the general obligation debt of the commonwealth, (2) current long-term and short-term debt-financing methods, (3) a five year forecast of projected debt service based on current outstanding debt of the commonwealth, (4) affordability and condition of the outstanding debt of state authorities and regional transit authorities, (5) methods of refinancing maturing obligations, (6) methods of improving credit rating, (7) projection of bond and note issuances for the next two fiscal years of the commonwealth, state authorities and regional transit authorities, (8) the cumulative impact on debt service of all capital authorizations pending before the general court, (9) whether proposed expenditures should be financed from the sale of bonds; and (c) to furnish on December thirty-first and June thirtieth of each year, an analysis of the current fiscal year’s issued long-term and short-term debt of the commonwealth, state authorities and regional transit authorities, including (1) volume of long-term and short-term offerings, (2) financing methods used, (3) interest costs, (4) costs incurred in financing including, but not limited to, credit enhancements, (5) liquidity enhancements, and (6) market demand.