General, a statement that specifies the amounts and purposes
of all expenditures made from money appropriated by this act
and other university accounts during the current fiscal year,
as provided in section 3, used as a basis for receipt of an
appropriation during the current fiscal year.
(b) Duties of Auditor General.--The statement of
expenditures and costs shall be reviewed by the Auditor General.
The Auditor General may, with respect to the money appropriated
by this act, audit and disallow expenditures made for purposes
not permitted by this act, recover the sums from the State-
related university and transmit the recovered sums to the State
Treasurer. In respect to expenditures made by the State-related
university from money other than that appropriated by this act,
the Auditor General may review only, and shall file annually
with the General Assembly, information concerning those
expenditures as the General Assembly or any of its committees
may require.
Section 6. Duty to provide information.
A State-related university shall provide full, complete and
accurate information as may be required by the department or the
chairperson or minority chairperson of the Appropriations
Committee of the Senate or the chairperson or minority
chairperson of the Appropriations Committee of the House of
Representatives.
Section 7. Financial statements.
A State-related university shall present and report its
financial statements required under this act in accordance with:
(1) the generally accepted accounting principles as
prescribed by the National Association of College and
University Business Officers, the American Institute of
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