1To the act of April 1, 1863 (P.L.213, No.227), entitled "An act
2to accept the grant of Public Lands, by the United States, to
3the several states, for the endowment of Agricultural
4Colleges," making appropriations for carrying the same into
5effect; providing for a basis for payments of such
6appropriations, for a method of accounting for the funds
7appropriated and for certain fiscal information disclosure;
8and making an appropriation from a restricted account within
9the Agricultural College Land Scrip Fund.

10The General Assembly of the Commonwealth of Pennsylvania
11hereby enacts as follows:

12Section 1. In order to carry into effect the act of
13Congress, approved July 2, 1862, granting public land to the
14several states for educational purposes, and subsequent acts of
15Congress related thereto, and the act of the General Assembly of
16Pennsylvania accepting the provisions and conditions of said
17acts of Congress and pledging the faith of the State to carry
18the same into effect, the following sums, or as much thereof as
19may be necessary, are hereby appropriated to the Trustees of The
20Pennsylvania State University for the fiscal year July 1, 2014,
21to June 30, 2015, for the purposes and in the amounts as shown:

22For general support.

1State appropriation..............................$214,110,000

2For Pennsylvania College of Technology.

3State appropriation..............................$15,584,000

4Section 2. Payments to The Pennsylvania State University on
5account of the appropriations for all items as provided in
6section 1 shall be made on the basis of costs during the fiscal
7year.

8Section 3. (a) Payments to The Pennsylvania State
9University of the appropriations provided in section 1 shall be
10made monthly during the fiscal year.

11(b) Such monthly payments shall be made in accordance with
12the provisions of section 2 on the basis of estimated costs. The
13estimate of costs shall be submitted by The Pennsylvania State
14University to the Secretary of Education, the General Assembly
15and the State Treasurer not later than 30 days prior to the date
16on which such payment is to be made.

17Section 4. (a) The Pennsylvania State University shall
18apply the moneys appropriated by this act only for such purposes
19as are permitted in this act and shall at all times maintain
20proper records showing the application of such moneys. Not later
21than 120 days after the close of the fiscal year to which this
22act relates, The Pennsylvania State University shall file, with
23the Secretary of Education, the General Assembly and the Auditor
24General of the Commonwealth, a statement setting forth the
25amounts and purposes of all expenditures made from moneys
26appropriated by this act and other university accounts during
27said fiscal year, as provided in section 2, used as a basis for
28receipt of any appropriation during said fiscal year.

29(b) Such statement of expenditures and costs shall be
30reviewed by the Auditor General of the Commonwealth, and he

1shall have the right, in respect to the moneys appropriated by
2this act, to audit and disallow expenditures made for purposes
3not permitted by this act and to cause such sums to be recovered
4and paid by The Pennsylvania State University to the State
5Treasurer. In respect to expenditures made by the university
6from moneys other than those appropriated by this act, the
7Auditor General shall have the right to review only, and he
8shall file annually with the General Assembly such information
9concerning such expenditures as the General Assembly or any of
10its committees may require.

11Section 5. The Pennsylvania State University shall provide
12full, complete and accurate information as may be required by
13the Department of Education or the chairman or the minority
14chairman of the Appropriations Committee of the Senate or the
15chairman or the minority chairman of the Appropriations
16Committee of the House of Representatives.

17Section 6. The Pennsylvania State University shall present
18and report its financial statements required under the
19provisions of this act in accordance with: the generally
20accepted accounting principles as prescribed by the National
21Association of College and University Business Officers, the
22American Institute of Certified Public Accountants, or their
23successors, or by any other recognized authoritative body; the
24"Commonwealth of Pennsylvania Budget Instructions for the State
25System of Higher Education, State-Related Universities and Non-
26State-Related Colleges and Universities"; and, the financial
27reporting policies and standards promulgated by the Commonwealth
28of Pennsylvania and by the Federal Government that apply to The
29Pennsylvania State University.

30Section 7. The moneys of the restricted account within the

1Agricultural College Land Scrip Fund are hereby appropriated for
2the fiscal year July 1, 2014, to June 30, 2015, in accordance
3with the provisions of the act of April 9, 1929 (P.L.343,
4No.176), known as The Fiscal Code, establishing the restricted
5account.

6Section 8. This act shall take effect July 1, 2014, or
7immediately, whichever is later.