Source: http://www4.law.cornell.edu/uscode/text/20/7223f?quicktabs_8=2
Timestamp: 2013-12-11 08:11:50
Document Index: 497891702

Matched Legal Cases: ['§ 7223', 'art 2', '§ 7223', '§ 7223', '§ 5227', '§ 501']

20 USC § 7223f - Audits and reports | Title 20 - Education | U.S. Code | LII / Legal Information Institute
USC › Title 20 › Chapter 70 › Subchapter V › Part B › Subpart 2 › § 7223f	prevnext
20 USC § 7223f - Audits and reports
Financial record maintenance and audit The financial records of each eligible entity receiving a grant under this subpart shall be maintained in accordance with generally accepted accounting principles and shall be subject to an annual audit by an independent public accountant.
Grantee annual reports Each eligible entity receiving a grant under this subpart annually shall submit to the Secretary a report of its operations and activities under this subpart.
Contents Each annual report submitted under paragraph (1) shall include—
a copy of any report made on an audit of the financial records of the eligible entity that was conducted under subsection (a) of this section during the reporting period;
an evaluation by the eligible entity of the effectiveness of its use of the Federal funds provided under this subpart in leveraging private funds;
a listing and description of the charter schools served during the reporting period;
a description of the activities carried out by the eligible entity to assist charter schools in meeting the objectives set forth in section 7223c of this title; and
a description of the characteristics of lenders and other financial institutions participating in the activities undertaken by the eligible entity under this subpart during the reporting period.
Secretarial report The Secretary shall review the reports submitted under paragraph (1) and shall provide a comprehensive annual report to Congress on the activities conducted under this subpart.
(Pub. L. 89–10, title V, § 5227, as added Pub. L. 107–110, title V, § 501,Jan. 8, 2002, 115 Stat. 1802.)