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Legal Resources | Title 5 |  T5  59015  

Audit of Scholarship Funds; Administrative Expenses.   

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Where the governing board of a district has established and maintains a fund for scholarships and loans, as designated by the California Community Colleges Budget and Accounting Manual, the governing board shall arrange for an annual audit of the fund in the manner prescribed in Section 84040 of the Education Code and Board of Governors regulations. All expenses in the administration of the fund, including, but not limited to, audits, operating costs, and promotion of the fund, shall be a proper charge against the funds of the district, and the annual budget of the district shall include funds for these expenses.

Authority cited:

Education Code 66700

Education Code 70901

Reference:

Education Code 70901

Education Code 84040

(Amended by Register 95, No. 29)