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§ 16-610. Reporting requirements

MD Educ Code § 16-610 (2019) (N/A)
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(a)    Each year the Board of Trustees and the president of the College shall prepare and submit to the county commissioners:

(1)    An annual report;

(2)    An operating budget;

(3)    A capital budget; and

(4)    If required, a long-term capital improvement program.

(b)    The operating budget shall show:

(1)    All revenues estimated for the next fiscal year classified by funds and sources of income for each campus;

(2)    All expenditures requested, including the major functions listed under § 16-304(b) of this title and specification for the direct expenditures for each campus by major function established by the Commission;

(3)    All indirect expenditures for institutional support;

(4)    All other indirect expenditures; and

(5)    Any other information or supporting data required by the county commissioners.

(c)    (1)    The county commissioners in each county shall review and approve the budget of the resident campus in that county and may reduce it.

(2)    The Board of Trustees of the College may approve transfers of appropriations for direct or indirect costs in order to ensure the mission of the College.

(d)    The operating budget of the College as outlined in this section shall be submitted to the Commission for informational purposes.

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