498

LAWS OF MARYLAND

Ch. 22

C. ADDITIONAL COMMITTEES.

THE COMMISSION MAY ESTABLISH SUCH ADDITIONAL COMMITTEES
AS ITS BYLAWS MAY PROVIDE.

ARTICLE VII. FINANCE.

A.  BUDGETS OF ESTIMATED EXPENDITURES.

THE COMMISSION SHALL ADVISE THE GOVERNOR OR DESIGNATED
OFFICER OR OFFICERS OF EACH PARTY STATE OF ITS BUDGET AND
ESTIMATED EXPENDITURES FOR SUCH PERIOD AS MAY BE REQUIRED BY
THE LAWS OF THAT PARTY STATE. EACH OF THE COMMISSION'S
BUDGETS OF ESTIMATED EXPENDITURES SHALL CONTAIN SPECIFIC
RECOMMENDATIONS OF THE AMOUNT OR AMOUNTS TO BE APPROPRIATED
BY EACH OF THE PARTY STATES.

B.  APPORTIONMENT OF APPROPRIATION REQUESTS AMONG PARTY
STATES.

THE TOTAL AMOUNT OF APPROPRIATION REQUESTS UNDER ANY
BUDGET SHALL BE APPORTIONED AMONG THE PARTY STATES. IN
MAKING SUCH APPORTIONMENT, THE COMMISSION SHALL DEVISE AND
EMPLOY A FORMULA WHICH TAKES EQUITABLE ACCOUNT OF THE
POPULATIONS AND PER CAPITA INCOME LEVELS OF THE PARTY
STATES.

C.    CREDIT OF PARTY STATES NOT TO BE PLEDGED;
OBLIGATIONS TO BE MET WITH FUNDS AVAILABLE.

THE COMMISSION SHALL NOT PLEDGE THE CREDIT OF ANY PARTY
STATES. THE COMMISSION MAY MEET ANY OF ITS OBLIGATIONS IN
WHOLE OR IN PART WITH FUNDS AVAILABLE TO IT PURSUANT TO
ARTICLE III (G) OF THIS COMPACT, PROVIDED THAT THE
COMMISSION TAKES SPECIFIC ACTION SETTING ASIDE SUCH FUNDS
PRIOR TO INCURRING AN OBLIGATION TO BE MET IN WHOLE OR IN
PART IN SUCH MANNER. EXCEPT WHERE THE COMMISSION MAKES USE
OF FUNDS AVAILABLE TO IT PURSUANT TO ARTICLE III (G)
THEREOF, THE COMMISSION SHALL NOT INCUR ANY OBLIGATION PRIOR
TO THE ALLOTMENT OF FUNDS BY THE PARTY STATES ADEQUATE TO
MEET THE SAME.

D.  ACCOUNTING PROCEDURES; ANNUAL AUDIT.

THE COMMISSION SHALL KEEP ACCURATE ACCOUNTS OF ALL
RECEIPTS AND DISBURSEMENTS. THE RECEIPTS AND DISBURSEMENTS
OF THE COMMISSION SHALL BE SUBJECT TO THE AUDIT AND
ACCOUNTING PROCEDURES ESTABLISHED BY ITS BYLAWS. HOWEVER,
ALL RECEIPTS AND DISBURSEMENTS OF FUNDS HANDLED BY THE
COMMISSION SHALL BE AUDITED YEARLY BY A QUALIFIED PUBLIC
ACCOUNTANT, AND THE REPORT OF THE AUDIT SHALL BE INCLUDED IN
AND BECOME PART OF THE ANNUAL REPORTS OF THE COMMISSION.

E.  INSPECTION OF ACCOUNTS.

THE ACCOUNTS OF THE COMMISSION SHALL BE OPEN AT ANY
REASONABLE TIME FOR INSPECTION BY DULY CONSTITUTED OFFICERS