---
title: O.C.G.A. § 20-3-317. Accounting system; use of funds; payments to commission.
collection: code
id: 20-3-317
cite_as: O.C.G.A. § 20-3-317 (2025)
canonical_url: https://georgiacommons.org/code/20-3-317
md_url: https://georgiacommons.org/code/20-3-317.md
text_url: https://georgiacommons.org/code/20-3-317/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t20-ch3-18-(v17a)-2025-pdf.pdf?sfvrsn=10d12596_0#page=213
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Session of the General Assembly of Georgia
heading_path: EDUCATION / POSTSECONDARY EDUCATION / SCHOLARSHIPS, LOANS, AND GRANTS / GEORGIA STUDENT FINANCE AUTHORITY / General Provisions
---

# O.C.G.A. § 20-3-317. Accounting system; use of funds; payments to commission.

The authority shall maintain a system of accounts in accordance with generally accepted 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 authority, the source of such funds, and all expenditures of the authority. Agency, federal, and other funds of the authority determined to be available for such purposes may be used to pay expenses and operating costs incurred by the authority under this part, including payment to the commission to defray expenses and operating costs of the authority paid or to be paid by the commission for or on behalf of the authority. No funds of the authority shall lapse to the state as of the close of any fiscal year.

## History

Code 1933, § 32-3708, enacted by Ga. L. 1980, p. 835, § 3; Ga. L. 2024, p. 120, § 2-16/HB 985, effective June 30, 2024.

## Amendments

The 2024 amendment, effective June 30, 2024, in the second sentence, substituted “under this part” for “or incurred by the corporation under Part 3 of this article” near the middle, deleted “or of the corporation” preceding “paid or” near the end, and deleted “or the corporation” from the end.