5. Funds received by an institution pursuant to this act shall be maintained in a separate ledger account. Each institution shall cause an audit of such account and of enrollment figures to be made annually by a certified public accountant and forwarded to the treasurer. The treasurer shall have the right to audit institutional records pertaining to this act. Each institution also shall furnish to the treasurer a copy of its audited annual financial statement.
N.J. Stat. Ann. § 18A:72B-19
Maintenance of funds; audit of records
Known as the Independent College and University Assistance Act
The act spans §§ 18A:72B-15 to 18A:72B-32 (18 sections).
L.1979,c.132,s.5; amended 1994,c.48,s.244; 1999,c.46,s.51.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.