WILLIAM DONALD SCHAEFER, Governor                   Ch. 311

pleasure of the Secretary and shall be an unclassified employee
of the State. Subject to the administrative supervision of the
Secretary [under Article 41, §§ 11-101, 11-102, and 11-105 of the
Code], the director shall operate and exercise the powers of the
Administration in accordance with the provisions of this subtitle
AND OF THE LAW RELATING TO THE ESTABLISHMENT OF THE DEPARTMENT OF
ECONOMIC AND EMPLOYMENT DEVELOPMENT. The director shall receive
such salary as provided in the State budget. With the exception
of. the director, no positions in the Administration may be added
without prior approval of the General Assembly.

[13-404.] 6-304.

(a)  The Administration shall provide for a system of
financial accounting, controls, audits, and reports. All
accounting systems and records, auditing procedures and
standards, and financial reporting of the Administration shall
conform to generally accepted accounting principles. As soon as
practical after the closing of the fiscal year, an audit shall be
made of the financial books, records, and accounts of the
Administration. The audit shall be made by independent
certified public accountants who are selected by the
Administration and who are licensed to practice in the State as
accountants. The accountants may not have a personal interest
either directly or indirectly in the fiscal affairs of the
Administration. They shall be experienced and qualified in the
accounting and auditing of public bodies. The report of audit
shall be prepared in accordance with generally accepted auditing
standards and point out any irregularity found to exist. The
auditors shall report the results of their examination including
their unqualified opinion on the presentation of the financial
position of the various funds and the results of the financial
opera-ions of the Administration. If they are unable to express
an unqualified opinion they shall state and explain in detail the
reasons for their qualifications, disclaimer, or opinion and they
shall include their recommendations as to what actions are
necessary to make possible future unqualified opinions.

(b)  The Administration shall prepare an annual report by
December 1 for the Governor and, subject to § 2-1312 of the State
Government: Article, for the General Assembly for the preceding
State fiscal year. The report shall contain a summary of the
energy projects that obtained financial assistance from the
Administration and, for each project or class of projects, the
estimated energy savings and energy supply additions. The report
shall also list the source and amount of any contribution, gift,
or other donation received by the Administration. Each report
shall set forth the complete operating and financial statement
covering the operations of the Administration during the fiscal
year and shall include the results of the audit performed under
subsection (a) of this section.

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