(a) The Division shall:
(1) formulate an accounting and record system that at all times indicates the source, nature, and extent of purchases and sales of Maryland Correctional Enterprises; and
(2) maintain accounting records and prepare financial statements in accordance with generally accepted accounting principles for enterprise fund type activities.
(b) The financial statements required under subsection (a)(2) of this section shall be prepared and available for audit purposes not later than 60 days after the close of each fiscal year.
Structure Maryland Statutes
Title 3 - Division of Correction
Subtitle 5 - Maryland Correctional Enterprises
Section 3-502 - Legislative Policy
Section 3-504 - Authority of Division of Correction
Section 3-505 - Chief Executive Officer
Section 3-507 - Budget; Funding
Section 3-508 - Records; Financial Statements
Section 3-511 - Program Development; Access to Personal Information Prohibited
Section 3-512 - Program Development -- Uniform Standards
Section 3-513 - Program Development -- Occupational Experience
Section 3-514 - Compensation for Inmate Labor
Section 3-516 - Sales on Open Market
Section 3-517 - Maryland Correctional Enterprises Management Council -- Established
Section 3-518 - Maryland Correctional Enterprises Management Council -- Membership
Section 3-519 - Maryland Correctional Enterprises Management Council -- Chairperson
Section 3-521 - Maryland Correctional Enterprises Management Council -- Miscellaneous Duties
Section 3-522 - Maryland Correctional Enterprises Management Council -- Annual Report
Section 3-523 - State and Local Units -- Cooperation
Section 3-524 - Customer Council -- Established
Section 3-525 - Customer Council -- Membership
Section 3-526 - Customer Council -- Chief Executive Officer
Section 3-527 - Customer Council -- Meetings; Compensation; Expenses