12 Pa. Code § 117.96. Financial record requirements.

§ 117.96. Financial record requirements.

(a)  The municipality is required to establish and maintain separate files and records of project transactions. This will include applications, correspondence, loan contracts, paid invoices and cancelled checks. Loan proceeds and local matching funds shall be deposited in a special project account.
(b)  The Department may require the completion and submission of financial statements or audits, or both, prior to satisfaction of indebtedness.

Authority

   The provisions of this §  117.96 issued under section 7 of the Local Government Capital Project Loan Fund Act (53 P. S. §  6781-7).

Source

   The provisions of this §  117.96 adopted August 21, 1992, effective August 22, 1992, 22 Pa.B. 4315.

No part of the information on this site may be reproduced for profit or sold for profit.

This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.