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Terms Used In Maryland Code, NATURAL RESOURCES 3-2A-14

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) The Trust shall report on or before September 1 of each year to the Governor, the budget committees of the General Assembly, and the Department of Legislative Services on the status of the Grant Fund as of the end of the previous fiscal year.

(b) The Trust’s report shall include:

(1) The total amounts of funds expended;

(2) The total amounts of funds committed;

(3) The total amounts of funds remaining;

(4) A list of projects for which funds have been expended or are committed;

(5) A projection of projects in the near future for which grants will be made;

(6) An assessment of which grants are expected to be fully or partially reimbursable to the Grant Fund;

(7) An evaluation of the program’s effectiveness; and

(8) Projections as to future funding needs.

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