(a) The books and records of the Trust are subject to audit: (1) by the State, at the State’s discretion; and (2) annually by an independent auditor approved and paid by the Trust. (b) (1) Within the first 90 days of each fiscal year, the Board shall report to the Governor and, subject to § 2–1257 of the State Government Article, to the General Assembly. (2) The report shall include a complete operating and financial statement of the operations of the Trust and a summary of the activities of the Trust during the preceding fiscal year.
Maryland Legal Code