Maryland Education Section 4-313

      (a)      By December 31 of each year and on June 30, 2002, the Chief Executive Officer and the Board shall issue an annual report that includes:

            (1)      A financial statement;

            (2)      A comprehensive accounting of progress in the implementation of the transition plan or master plan including:

                  (i)      Assessment of student performance by the categories required by the Maryland School Performance Program standards; and

                  (ii)      Specific assessment of the extent of implementation of each item included in § 4-309 of this subtitle, and any changes necessary in previously established timelines;

            (3)      Sources of income and payments of debt service on any bonds issued by the Board in accordance with § 4-306.2 of this subtitle;

            (4)      Anticipated sources and amounts of payments of debt service on any bonds issued by the Board in accordance with § 4-306.2 of this subtitle; and

            (5)      Any other information as required by State law.

      (b)      (1)      The State Board of Education and State Superintendent of Schools shall review each annual report and comment on the progress made towards achieving both managerial and educational goals.

            (2)      The General Assembly shall consider the reports and the comments or recommendations of the State Board and Superintendent before approving the State budget each year.