§ 16-507. Operating and capital budgets
West's Annotated Code of MarylandEducation
MD Code, Education, § 16-507
§ 16-507. Operating and capital budgets
(a) For each fiscal year, the President shall prepare and the Board of Trustees shall review, modify, as necessary, and approve an operating budget and a capital budget for the College.
(b) The operating budget shall indicate:
(c) The President and Board of Trustees shall submit the operating and capital budgets to the Commission in accordance with the provisions of § 11-105(i) of this article.
(d)(1) All income of the College shall be deposited:
(4) The interest or other income from the investment of any funds of the College shall be credited to the College, provided that any interest estimated to be earned on the State appropriation must be offset by an equivalent reduction in State General Fund support, and that amount will be reported annually to the General Assembly.
Credits
Added as Education § 16-607 by Acts 1990, c. 220, § 3, eff. June 1, 1990. Amended by Acts 1991, c. 464, § 3; Acts 1992, c. 208. Renumbered as Education § 16-507 by Acts 1996, c. 10, § 16, eff. April 9, 1996. Amended by Acts 1996, c. 10, § 16, eff. April 9, 1996; Acts 1997, c. 635, § 9, eff. July 1, 1997; Acts 1997, c. 636, § 9, eff. July 1, 1997; Acts 2000, c. 61, §§ 1, 6, eff. April 25, 2000; Acts 2001, c. 29, § 6, eff. April 10, 2001.
MD Code, Education, § 16-507, MD EDUC § 16-507
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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