§ 5-501
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/md/education/5-501A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–501.
(a)For fiscal year 2001 and each fiscal year thereafter, to be considered for funding under this subtitle, an educational institution must qualify as a State-aided educational institution under this subtitle.
(b)To qualify as a State-aided educational institution, an educational institution shall submit to the Department the following documentation:
(1)The names of the members of an independent governing board for the institution;
(2)Proof of status as a nonprofit organization;
(3)A copy of the most recent independent annual audit or copies of the most recent internally generated financial statements until the annual audit is available;
(4)A detailed operating budget that:
(i)For an educational institution other than the Baltimore Zoo, indicates that less than 50% of the operating budget comes from State grants;
(ii)Specifies all sources of income, including grants received, names of granting agencies, and the amount of each grant; and
(iii)Specifies all expenditures;
(5)Plans for the use of any grant funds that may be awarded by the State-aided educational institutions grants programs;
(6)Evidence of the provision of a direct service to Maryland school groups or to individuals with disabilities, including:
(i)Data on age levels of students to be served;
(ii)Data on the projected number of students and teachers to be served both statewide and by local jurisdiction; and
(iii)Plans of the institution to support the goals of the Maryland Schools for Success Program and the Maryland School Performance Program; and
(7)Evidence of liability insurance coverage.