THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

INTRODUCED BY CORMAN, JUNE 8, 2011

AS AMENDED ON SECOND CONSIDERATION, JUNE 26, 2011   

A SUPPLEMENT

To the act of July 7, 1972 (P.L.743, No.176), entitled "An act

providing for the establishment and operation of Lincoln

University as an instrumentality of the Commonwealth to serve

as a State-related institution in the higher education system

of the Commonwealth; providing for change of name; providing

for the composition of the board of trustees; terms of

trustees, and the power and duties of such trustees;

providing for preference to Pennsylvania residents in

tuition; authorizing appropriations in amounts to be fixed

annually by the General Assembly; providing for the auditing

of accounts of expenditures from said appropriations;

providing for public support and capital improvements;

authorizing the issuance of bonds exempt from taxation within

the Commonwealth; requiring the President to make an annual

report of the operations of Lincoln University," making an

appropriation for carrying the same into effect; providing

for a basis for payments of the appropriation; and providing

a method of accounting for the funds appropriated and for

certain fiscal information disclosure.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1.  The sum of $11,715,000 $11,163,000, or as much

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thereof as may be necessary, is hereby appropriated to the

Trustees of Lincoln University, Chester County, for the fiscal

year July 1, 2011, to June 30, 2012, for general support.

Section 2.  Payments to Lincoln University on account of the

appropriation provided in section 1 shall be made on the basis

of costs during the fiscal year.

Section 3.  (a)  Payments to Lincoln University of the

appropriation provided in section 1 shall be made monthly during

the fiscal year.

(b)  Such monthly payments shall be made in accordance with

the provisions of section 2 on the basis of estimated costs. The

estimate of costs shall be submitted by Lincoln University to

the Secretary of Education, the General Assembly and the State

Treasurer not later than 30 days prior to the date on which such

payment is to be made.

Section 4.  (a)  Lincoln University shall apply the moneys

appropriated by this act only for such purposes as are permitted

in this act and shall at all times maintain proper records

showing the application of such moneys. Not later than 120 days

after the close of the fiscal year to which this act relates,

Lincoln University shall file, with the Secretary of Education,

the General Assembly and the Auditor General of the

Commonwealth, a statement setting forth the amounts and purposes

of all expenditures made from moneys appropriated by this act

and costs, as provided in section 2, used as a basis for receipt

of any appropriation during said fiscal year.

(b)  Such statement of expenditures and costs shall be

reviewed by the Auditor General of the Commonwealth, and he

shall have the right, in respect to the moneys appropriated by

this act, to audit and disallow expenditures made for purposes

not permitted by this act and to cause such sums to be recovered

and paid by Lincoln University to the State Treasurer. In

respect to expenditures made by the university from moneys other

than those appropriated by this act, the Auditor General shall

have the right to review only, and he shall file annually with

the General Assembly such information concerning said

expenditures as the General Assembly or any of its committees

may require.

Section 5.  The Lincoln University shall provide full,

complete and accurate information as may be required by the

Department of Education or the chairman or the minority chairman

of the Appropriations Committee of the Senate or the chairman or

the minority chairman of the Appropriations Committee of the

House of Representatives.

Section 6.  Lincoln University shall present and report its

financial statements required under the provisions of this act

in accordance with: the generally accepted accounting principles

as prescribed by the National Association of College and

University Business Officers, the American Institute of

Certified Public Accountants, or their successors, or by any

other recognized authoritative body; the "Commonwealth of

Pennsylvania Budget Instructions for the State System of Higher

Education, State-Related Universities and Non-State-Related

Colleges and Universities"; and the financial reporting policies

and standards promulgated by the Commonwealth of Pennsylvania

and by the Federal Government that apply to Lincoln University.

Section 7.  This act shall take effect July 1, 2011, or

immediately, whichever is later.