MARVIN MANDEL, Governor                          945

of such transfers shall be submitted to the county commissioners
or county council or elected executive officer at the end of each month.
However, transfers between major categories shall be made only
with the approval of the county commissioners, or county council;
provided that if the county commissioners or county council fail to
take action on a request for transfer within thirty days following the
receipt of a written request substantiating the transfer, the failure
to take action shall be deemed to constitute approval.

(f)    In the event that the county commissioners or county council
fail to appropriate the amount requested by the board of education
for capital projects, it shall indicate in writing which projects have
been reduced, deferred or eliminated and the reason for such reduc-
tion, referral DEFERRAL or elimination. The expenditure for school
building construction shall be made in accordance with the cost ap-
proved by the county commissioners or county council for each specific
project; provided that transfer between major categories and that the
transfer of unexpended project balances shall be subject to the ap-
proval of county commission or county council; provided that if the
county commissioners or county council fail to take action on a request
for transfer within thirty days following the receipt of a written
request substantiating the transfer, the failure to take action shall be
deemed to constitute approval.

(g)    With respect to Baltimore City: (1) The amount requested in
the annual budget of the Board of School Commissioners of Balti-
more City for current expenses for the succeeding school year and
to be raised by revenue from local sources shall not be less than the
minimum amount required to be levied in Section 128 (b) (4) of this
article to support the foundation program of education. Provided,
that the Mayor and City Council of Baltimore City may provide funds
in excess of the amount required for the foundation program in order
to support improved and additional programs. (2) A copy of the
budget as approved by the Mayor and City Council of Baltimore
City shall be submitted to the State Superintendent of Schools within
thirty days after such approval. (3) The Mayor and City Council of
Baltimore City are hereby authorized, empowered, directed and
required to levy and collect such tax upon the assessable property of
the City, which together with other local revenue available, including
income tax revenues and local monies and together with estimated
reserves and funds from all sources, will produce the amounts
necessary to meet the appropriations made in the approved annual
budget of the Board of School Commissioners.

118. Annual audit.

(A)    Each county board of education shall provide for an annual
audit of its financial transactions and of the accounts of the board of
education. The audit shall be made by a certified public accountant
or a partnership of