20-U.S.C.-1063C

20-U.S.C.-1063C

§1063C – Reporting and Audit Requirements

Pathway

Title 20 > Chapter 28 > Subchapter III > Part B > Section 1063c

Details

  • Reference: Section 1063c
  • Legend: §1063C – Reporting and Audit Requirements
  • USCode Year: 2013

Provision Content

(a) Recordkeeping

Each recipient of a grant under this part shall keep such records as the Secretary shall prescribe, including records which fully disclose—

(1) the amount and disposition by such recipient of the proceeds of such assistance;

(2) the cost of the project or undertaking in connection with which such assistance is given or used;

(3) the amount of that portion of the cost of the project or undertaking supplied by other sources; and

(4) such other records as will facilitate an effective audit.

(b) Use of unexpended funds

Any funds paid to an institution and not expended or used for the purposes for which the funds were paid during the five-year period following the date of the initial grant award, may be carried over and expended during the succeeding five-year period, if such funds were obligated for a purpose for which the funds were paid during the five-year period following the date of the initial grant award.

(Pub. L. 89–329, title III, §327, as added Pub. L. 99–498, title III, §301(a), Oct. 17, 1986, 100 Stat. 1298; amended Pub. L. 100–50, §2(a)(11), June 3, 1987, 101 Stat. 335; Pub. L. 110–315, title III, §312, Aug. 14, 2008, 122 Stat. 3180.)

Amendments

2008—Subsec. (b). Pub. L. 110–315 amended subsec. (b) generally. Prior to amendment, text read as follows: Any funds paid to an institution and not expended or used for the purposes for which the funds were paid within 10 years following the date of the initial grant awarded to an institution under part B of this subchapter shall be repaid to the Treasury of the United States.

1987—Subsec. (a). Pub. L. 100–50 substituted part for chapter in introductory text.

Effective Date of 1987 Amendment

Amendment by Pub. L. 100–50 effective as if enacted as part of the Higher Education Amendments of 1986, Pub. L. 99–498, see section 27 of Pub. L. 100–50, set out as a note under section 1001 of this title.

U.S. Encyclopedia of Law Coverage

20-U.S.C.-1059A in the Legal Encyclopedia: Students

In this entry about 20-U.S.C.-1059A, find legal reference material, bibliographies and premiere content related to students in the American Encyclopedia of Law, presenting a comprehensive view of the United States students-specific issues, written by authorities in the field.

20-U.S.C.-1061 in the Legal Encyclopedia: Education Grants

In this entry about 20-U.S.C.-1061, find legal reference material, bibliographies and premiere content related to education grants in the American Encyclopedia of Law, presenting a comprehensive view of the United States education grants-specific issues, written by authorities in the field.

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