Maryland Code, STATE FINANCE AND PROCUREMENT 7-212
Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 7-212
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) the Board of Regents of Morgan State University;
(2) the Board of Regents of the University System of Maryland; and
(3) the Board of Trustees of St. Mary’s College of Maryland.
(b) A governing board to which this section applies may transfer money among objects and, subject to the limitation in subsection (c) of this section, among programs under the jurisdiction of the governing board without submitting a proposed amended appropriation for a program under § 7-209 of this subtitle.
(c) During a fiscal year, a governing board may not transfer from a program more than 5% of the appropriation in the State budget for that program.
(d) At the end of each fiscal year, each governing board to which this section applies shall give to the Comptroller, the Department of Budget and Management, and, subject to § 2-1257 of the State Government Article, the Department of Legislative Services, for information only, a summary of the transfers among programs made during the fiscal year.
(e) Section 7-209 of this subtitle does not apply to a transfer under this section.