Act of Jul. 2, 2012,P.L. 1850, No. 13A Cl. 84 - APPROPRIATION TO TRUSTEES OF LINCOLN UNIVERSITY
Statute Update
Generated 2013-09-18 03:29:16 PM
APPROPRIATION TO TRUSTEES OF LINCOLN UNIVERSITY
Act of Jul. 2, 2012,
P.L. 1850,
No. 13A
Cl. 84
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 $11,163,000, or as much thereof as may be necessary, is hereby appropriated to the Trustees of Lincoln University, Chester County, for the fiscal year July 1, 2012, to June 30, 2013, 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.
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, 2012, or immediately, whichever is later.