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Official Code of Georgia Annotated

Title 20. EDUCATION · Chapter 3. POSTSECONDARY EDUCATION · Article 7. SCHOLARSHIPS, LOANS, AND GRANTS · Part 1. GEORGIA STUDENT FINANCE COMMISSION

20-3-238. Accounting system.

Active

Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

  1. The commission shall maintain a system of accounts in accordance with generally acceptable accounting procedures and standard accounting procedures and systems established by the state, where applicable, which shall, among other things, properly identify and account for all funds received by the commission from the authority; the source of receipt of such funds by the authority; all expenditures of the commission made for or on behalf of the authority; all expenditures of the commission, a pro rata part of which is properly chargeable as an expenditure made for or on behalf of the authority; and the basis or method used by the commission in prorating ratable expenditures of the commission to the authority.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 32-3108, enacted by Ga. L. 1980, p. 835, § 1; Ga. L. 2024, p. 120, § 2-12/HB 985, effective June 30, 2024.

Amendments

The 2024 amendment, effective June 30, 2024, substituted “from the authority;” for “from the corporation and from the authority, respectively;”, substituted “by the authority;” for “by the corporation and by the authority, respectively;”, substituted “the authority;” for “the corporation or the authority, respectively;” twice, and substituted “to the authority” for “to the corporation and to the authority, respectively” at the end of the first sentence, and deleted the former second sentence, which read: “No agency fund moneys received by the commission from the corporation shall be expended by the commission in payment of expenses incurred for or on behalf of the authority.”

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

Text read from t20-ch3-18-(v17a)-2025-pdf.pdf, Volume V17A, 2025 edition, pages 156 to 157; merge action: bound only; file SHA-256 4560a0cef806.