1978

LAWS OF MARYLAND

Ch. 642

BY adding to

Article - Education

Section 16-409

Annotated Code of Maryland

(As enacted by Chapter___of the Acts of the General

Assembly of 1978)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 16-409 of Article - Education, of

the Annotated Code of Maryland (as enacted by Chapter___ of

the Acts of the General Assembly of 1978) be repealed.

SECTION 2. AND BE IT FURTHER ENACTED, That section(s)
of the Annotated Code of Maryland (as enacted by Chapter

____ of the Acts of the General Assembly of 1978) be

repealed, amended, or enacted to read as follows:

Article — Education

16-409.

(A) THE STATE BOARD FOR COMMUNITY COLLEGES SHALL
ADOPT GUIDELINES FOR FINANCIAL RECORD KEEPING AND THE
PREPARATION OF ANNUAL AUDIT REPORTS BY THE COMMUNITY

COLLEGES. THE COMMUNITY COLLEGES SHALL COMPLY WITH THE

GUIDELINES OF THE STATE BOARD.

(A) (B) EACH COMMUNITY COLLEGE IN THE STATE SHALL
HAVE AN ANNUAL AUDIT OF ITS BOOKS OF ACCOUNTS, ACCOUNTING
PROCEDURES AND PRINCIPLES, AND OTHER FISCAL AND OPERATIONAL

METHODS AND PROCEDURES IN__ACCORDANCE WITH GUIDELINES AS

PRESCRIBED BY THE STATE BOARD FOR COMMUNITY COLLEGES WITH

THE CONCURRENCE OF THE LEGISLATIVE AUDITOR. A COPY OF THE

AUDIT REPORT, TOGETHER WITH THE RELATED MANAGEMENT LETTER,
SHALL BE SUBMITTED TO THE STATE BOARD FOR COMMUNITY COLLEGES
AND THE LEGISLATIVE AUDITOR WITHIN 90 DAYS OF THE CLOSE OF
EACH FISCAL YEAR. THE STATE BOARD FOR COMMUNITY COLLEGES

SHALL ASCERTAIN THAT THE COMMUNITY COLLEGES ARE AUDITED IN

ACCORDANCE WITH THIS SECTION.

(B) THE COMMUNITY COLLEGES SHALL COMPLY WITH ALL THE

AUDIT RECOMMENDATIONS INCLUDED IN THE AUDIT REPORTS AND

RELATED MANAGEMENT LETTERS. IF A COMMUNITY COLLEGE

ESTABLISHES TO THE SATISFACTION OF THE STATE BOARD FOR

COMMUNITY COLLEGES THAT A RECOMMENDATION

(C) IF A COMMUNITY COLLEGE ESTABLISHES TO THE

SATISFACTION OF THE STATE BOARD FOR COMMUNITY COLLEGES THAT

A RECOMMENDATION IN AN AUDIT REPORT OR RELATED MANAGEMENT
LETTER SHOULD NOT BE IMPLEMENTED THE BOARD SHALL NOTIFY THE
LEGISLATIVE AUDITOR OF THE REASONS FOR NOT IMPLEMENTING THE
RECOMMENDATION. WITH DUE NOTICE TO THE COMMUNITY COLLEGE
WITH THE CONCURRENCE OF THE STATE BOARD FOR HIGHER