Maryland Code, STATE FINANCE AND PROCUREMENT 7-306
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Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 7-306
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
- including: means includes or including by way of illustration and not by way of limitation. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(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.