§ 35.64. Reports and payments.
(a) Prior to the beginning of the fiscal year of the college, the board of trustees shall have its budget approved by a majority of the members of the local sponsor.
(b) A college shall submit annual budget information in the form and on the schedule specified and provided by the Department.
(c) A college shall use an accounting system approved by the Department.
(d) One copy of the sponsor-approved budget shall be filed with the Department upon request.
(e) For purposes of Commonwealth payments, the following words shall have the following meanings:
(1) Academic yearThe period of instruction which includes two semesters, two trimesters or three terms or quarters.
(2) Annual yearA 12-month period coterminous with the Commonwealth fiscal year beginning July 1 and ending June 30.
(3) Summer termAn additional session, semester, trimester or quarter offered at the end of the regular academic year.
(f) Enrollment reports for Commonwealth payments shall be prepared as of the end of the refund period for each semester, trimester, term, quarter, summer session or special session and shall be retained for use by Commonwealth auditors.
(g) Commonwealth payments to each college board of trustees on behalf of the sponsor shall be paid in the year in which the expenses are incurred. Payments shall be made as specified by law subject to compliance with established schedule for submission of appropriate data required by the Department.
(h) Reimbursement claim forms shall be submitted to the Department within 90 days after the close of a fiscal year and shall be used by the Commonwealth for tentative fiscal year-end settlement of payment to the Commonwealth by the college, payment by the Commonwealth to the college or adjustment by the Commonwealth in the colleges next quarterly payment.
The provisions of this § 35.64 amended February 9, 1973, effective February 10, 1973, 3 Pa.B. 281; amended May 27, 1977, effective May 28, 1977, 7 Pa.B. 1426; amended July 16, 1982, effective July 17, 1982, 12 Pa.B. 2282; amended December 25, 1987, effective December 26, 1987, 17 Pa.B. 5323. Immediately preceding text appears at serial pages (71518) and (108465).
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