The Scholarship Program shall be jointly administered by the Commission and each community college in the State. Responsibilities of Commission. The Commission shall: Annually allocate funding for the Scholarship Program to each community college in the State in accordance with Education Article, Title 18, Subtitle 36, Annotated Code of Maryland, and this chapter; Identify students who are potentially eligible for the Scholarship based on information from the FAFSA or MHEC OneApp and provide a list of potentially eligible students to the community colleges through MDCAPS; Review audit reports to ensure that each community college has verified eligibility and awarded funds as set forth in Education Article, Title 18, Subtitle 36, Annotated Code of Maryland, and this chapter; Collect payments from community colleges that have made awards in error and transfer the collected funds to the Need-based Student Financial Assistance Fund under Education Article, §18-107, Annotated Code of Maryland; Annually reconcile allocated funds, collect unused funds from community colleges, and transfer the collected funds to the Need-based Student Financial Assistance Fund under Education Article, §18-107, Annotated Code of Maryland; Publicize the Scholarship Program throughout Maryland, including, but not limited to, posting information about the Scholarship on the Commission website and providing information to high school counselors; and Annually report information regarding the Scholarship to the General Assembly as set forth in Education Article, Title 18, Subtitle 36, Annotated Code of Maryland. Responsibilities of Community Colleges. Each community college in the State shall: Publicize the Scholarship Program in a readily accessible location on the community college’s website; Create, prominently post, and provide to initial and renewal applicants a clear and easily understandable step-by-step application process, including all required forms and documentation; Verify eligibility of initial applicants as set forth in Education Article, §18-3603(b)—(c), Annotated Code of Maryland, and this chapter; Select and award eligible initial applicants using the priority criteria in Education Article, §18-3604(b), Annotated Code of Maryland; Maintain a wait list of eligible initial applicants that are not offered an award; Verify eligibility of renewal applicants under the criteria in Education Article, §18-3604(c) and award eligible renewal applicants; Timely notify initial and renewal applicants of their award status in writing; Calculate award amounts as set forth in Education Article, §18-3604(a)—(b), Annotated Code of Maryland, and disburse awards to student accounts from the community college’s allocated funds; Work with the Commission to annually reconcile the allocated funds; Return to the Commission any unused funds and any funds for awards that were erroneously awarded; Maintain student records received or created for the Scholarship for a period of at least 5 years after the student’s final award date; Make all financial books, records, and documents pertaining to the Scholarship Program available for inspection by the Commission, or an authorized representative of the Commission, at any time; Annually obtain and submit to the Commission an independent audit of the community college’s administration of the Program in accordance with this chapter; and Provide reports and information to the Commission as set forth in this chapter and at the request of the Commission.