ROBERT L. EHRLICH, JR., Governor                              Ch. 47

H. Fixed charges; and

I. Other expenses.

(iii) The number of prepaid contracts entered into during the
previous fiscal year;

(iv) Efforts by the Board in marketing the Trust of prepaid
contracts; and

(v) Any recommendations of the Board concerning the operation of
the Trust.

(2) The Board shall make available to each account holder a copy of a
summary of the report and the option to purchase the full report at a nominal charge.

(c) The audit required by subsection (a)(2) of this section and the report
required by subsection (b) of this section may be combined with any other audit or
report for the same fiscal year required to be submitted by the Board to the Governor
and the General Assembly.

18-19A-07.

(a)     (1) The Legislative Auditor shall audit the Plan as provided under Title
2, Subtitle 12 of the State Government Article.

(2) The Board shall obtain an annual audit report from service
providers.

(b)     (1) Within [90] 120 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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