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PARRIS N. GLENDENING, Governor
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S.B. 140
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(B) (1) WITHIN 90 DAYS AFTER THE CLOSE OF EACH FISCAL YEAR, THE
BOARD SHALL SUBMIT TO THE GOVERNOR AND, SUBJECT TO § 2-1246 OF THE STATE
GOVERNMENT ARTICLE, TO THE GENERAL ASSEMBLY A REPORT INCLUDING:
(I) A FINANCIAL ACCOUNTING OF THE PLAN, INCLUDING:
1. AN ANNUAL REVIEW OF THE PLAN WHICH SHALL
INCLUDE:
A. THE STATUS OF THE INVESTMENT PROGRAM;
B. THE ASSETS HELD IN EACH CLASS OF INVESTMENT;
C. THE PERCENTAGE AND DOLLAR VALUE OF ASSETS
PLACED WITH OUTSIDE MANAGERS;
D. THE INCOME PRODUCED BY EACH CLASS OF
INVESTMENT;
E. THE INCOME PRODUCED BY EACH INVESTMENT
MANAGER;
F. THE TOTAL DEPOSITS INTO THE PLAN FOR THE PAST
YEAR; AND
G. THE TOTAL WITHDRAWALS FROM THE PLAN FOR THE
PAST YEAR; AND
2. A DETAILED ACCOUNT OF THE OPERATING AND
ADMINISTRATIVE BUDGET FOR THE PLAN, WHICH SHALL INCLUDE A COMPLETE LIST
OF REVENUE SOURCES AND EXPENDITURES DETAILING THE LINE ITEM
EXPENDITURES FOR:
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A.
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SALARIES, WAGES, AND FRINGE BENEFITS
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B.
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TECHNICAL AND SPECIAL FEES;
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C.
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COMMUNICATION;
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D.
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TRAVEL;
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E.
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CONTRACTUAL SERVICES;
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F.
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SUPPLIES AND MATERIALS;
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G.
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EQUIPMENT;
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H.
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FIXED CHARGES; AND
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I.
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OTHER EXPENSES;
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THE
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NUMBER OF NEW CONTRIBUTORS TO
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ACCOUNTS DURING THE PREVIOUS FISCAL YEAR;
(III) EFFORTS IN MARKETING THE PLAN; AND
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- 3631 -
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