.01 Community College Finance (Not Applicable to Baltimore City Community College).

A. A college shall annually prepare an operating budget and a capital budget request in accordance with applicable State law and procedures prescribed by the Commission in its Financial Guidelines and Procedures Manual and the Community College Facilities Manual, respectively. A copy of the approved operating budget shall be submitted to the Commission by July 1.

B. A college shall use the budget functions established by the Commission, and each county governing body supporting a college shall make appropriations by these major functions.