By November 15 of each year, the Department of Planning and Budget, in cooperation with the Department of Medical Assistance Services, shall prepare and submit an estimate of Medicaid expenditures for the current year and a forecast of such expenditures for the next two years to the House Committees on Appropriations and Health and Human Services and to the Senate Committees on Finance and Appropriations and on Education and Health, and to the Joint Legislative Audit and Review Commission.