742

LAWS OF MARYLAND

Ch. 11

(1) THE REPORT SHALL DESCRIBE THE ACTIVITIES AND
OPERATION OF THE OFFICE OF THE TREASURER DURING THE PRECEDING
FISCAL YEAR.

FUNDS;

(2) THE REPORT SHALL INCLUDE:

(I) A STATEMENT ON THE MANAGEMENT OF STATE

INVESTMENTS; AND

(II) A STATEMENT ON THE INTEREST EARNED ON

(III) A STATEMENT ON THE ADMINISTRATION OF THE
STATE INSURANCE PROGRAM AND THE STATE INSURANCE TRUST FUND,
INCLUDING ANY RECOMMENDATIONS FOR CHANGES IN THEIR OPERATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 95, §§ 8A
and 35(a).

In the introductory language of subsection (b)(2) of

this section, the former phrase "but not limited to"

is deleted as unnecessary in light of the definition
of the words "includes" and "including".

Subsection (b)(2)(iii) of this section is revised to
combine the reference, in former Art. 95, § 8A, to a
statement on the "administration of the insurance
programs" with former Art. 95, § 35(a), which required
a report on the State Insurance Trust Fund and
recommendations on the Fund and the Program. This
revision clarifies that the former reference to
"insurance programs" meant the State Insurance
Program, including the State Insurance Trust Fund.
See Title 9 of this article.

2-105.

See also Md. Constitution, Art. VI, § 4, which
requires the Treasurer to submit to the General
Assembly copies of the accounts of the Treasurer.

Defined terms: "Includes";"including" § 1-101

REPORTS ON NONBUDGETED AND DEDICATED FUNDS.

ON OR BEFORE JANUARY 10 OF EACH YEAR, EACH UNIT OF THE STATE
GOVERNMENT, INCLUDING THE UNIVERSITY OF MARYLAND, THAT IS USING
NONBUDGETED OR DEDICATED FUNDS FOR A CAPITAL CONSTRUCTION PROJECT
SHALL SUBMIT TO THE JOINT BUDGET AND AUDIT COMMITTEE A DETAILED
REPORT ON THE USE OF THOSE FUNDS.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 15A, §
10A.