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Ch. 13
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LAWS OF MARYLAND
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544
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AVAILABLE THEREFOR.
ARTICLE VIII
BUDGET
23. CAPITAL BUDGET.
THE BOARD SHALL ANNUALLY ADOPT A CAPITAL BUDGET,
INCLUDING ALL CAPITAL PROJECTS IT PROPOSES TO UNDERTAKE
OR CONTINUE DURING THE BUDGET PERIOD, CONTAINING A
STATEMENT OF THE ESTIMATED COST OF EACH PROJECT AND THE
METHOD OF FINANCING THEREOF.
24. CURRENT EXPENSE BUDGET.
THE BOARD SHALL ANNUALLY ADOPT A CURRENT EXPENSE
BUDGET FOR EACH FISCAL YEAR. SUCH BUDGET SHALL INCLUDE
THE BOARD'S ESTIMATED EXPENDITURES FOR ADMINISTRATION,
OPERATION, MAINTENANCE AND REPAIRS, DEBT SERVICE
REQUIREMENTS AND PAYMENTS TO BE MADE INTO ANY FUNDS
REQUIRED TO BE MAINTAINED. THE TOTAL OF SUCH EXPENSES
SHALL BE BALANCED BY THE BOARD'S ESTIMATED REVENUES AND
RECEIPTS FROM ALL SOURCES, EXCLUDING FUNDS INCLUDED IN
THE CAPITAL BUDGET OR OTHERWISE EARMARKED FOR OTHER
PURPOSES.
25. ADOPTION AND DISTRIBUTION OF BUDGETS.
(A) FOLLOWING THE ADOPTION BY THE BOARD OF ANNUAL
CAPITAL AND CURRENT EXPENSE BUDGETS, THE GENERAL MANAGER
SHALL TRANSMIT CERTIFIED COPIES OF SUCH BUDGETS TO THE
PRINCIPAL BUDGET OFFICER OF THE FEDERAL GOVERNMENT, THE
DISTRICT OF COLUMBIA, THE WASHINGTON SUBURBAN TRANSIT
DISTRICT AND OF THE COMPONENT GOVERNMENTS OF THE NORTHERN
VIRGINIA TRANSPORTATION COMMISSION AT SUCH TIME AND IN
SUCH MANNER AS MAY BE REQUIRED UNDER THEIR RESPECTIVE
BUDGETARY PROCEDURES.
(B) EACH BUDGET SHALL INDICATE THE AMOUNTS, IF ANY,
REQUIRED FROM THE FEDERAL GOVERNMENT, THE GOVERNMENT OF
THE DISTRICT OF COLUMBIA, THE WASHINGTON SUBURBAN TRANSIT
DISTRICT AND THE COMPONENT GOVERNMENTS OF THE NORTHERN
VIRGINIA TRANSPORTATION DISTRICT, DETERMINED IN
ACCORDANCE WITH THE COMMITMENTS MADE PURSUANT TO ARTICLE
VII, § 18 OF THIS TITLE, TO BALANCE EACH OF SAID
BUDGETS.
26. PAYMENTS.
SUBJECT TO SUCH REVIEW AND APPROVAL AS MAY BE
REQUIRED BY THEIR BUDGETARY OR OTHER APPLICABLE
PROCESSES, THE FEDERAL GOVERNMENT, THE GOVERNMENT OF THE
DISTRICT OF COLUMBIA, THE WASHINGTON SUBURBAN TRANSIT
DISTRICT AND THE COMPONENT GOVERNMENTS OF THE NORTHERN
VIRGINIA TRANSPORTATION DISTRICT SHALL INCLUDE IN THEIR
RESPECTIVE BUDGETS NEXT TO BE ADOPTED AND APPROPRIATE OR
OTHERWISE PROVIDE THE AMOUNTS CERTIFIED TO EACH OF THEM
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