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Maryland Code, State Finance and Procurement § 7-306

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) This section applies only to St. Mary's College of Maryland.

(b) At the end of a fiscal year, the unencumbered balance of each appropriation from the General Fund, including an amount received as reimbursement of statewide indirect costs, to the Board or any of these institutions reverts to the General Fund of the State.

(c) The unencumbered balance of any other appropriation to the Board or these institutions:

(1) does not revert to the General Fund of the State;

(2) shall be available as provided in the State budget or through an approved budget amendment; and

(3) shall be reported by the Board or institution to the State Comptroller at the end of each fiscal year.

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Cite this article: FindLaw.com - Maryland Code, State Finance and Procurement § 7-306 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-finance-and-procurement/md-code-state-fin-and-proc-sect-7-306/

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