
university from an appropriation provided in this act shall be
made monthly during the current fiscal year.
(b) Estimated costs.--The monthly payments shall be made to
a State-related university under section 3 on the basis of
estimated costs. The estimate of costs shall be submitted by the
State-related university to the secretary, the General Assembly
and the State Treasurer not later than 30 days prior to the date
on which the payment is to be made.
Section 5. Purposes of expenditures and statement of
expenditures and costs.
(a) Duties of State-related universities.--
(1) A State-related university shall apply the money
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 the money.
(2) Not later than 120 days after the close of the
current fiscal year, the State-related university shall file,
with the secretary, the General Assembly and the Auditor
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
Certified Public Accountants, or their successors, or by any
other recognized authoritative body;
(2) the "Commonwealth of Pennsylvania Budget
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