Illinois Administrative Code
Title 23 - EDUCATION AND CULTURAL RESOURCES
Part 1035 - BUILD ILLINOIS GRANTS TO NONPUBLIC INSTITUTIONS OF HIGHER LEARNING
Subpart A - CAPITAL IMPROVEMENT GRANTS FOR LABORATORY, RESEARCH AND INSTRUCTIONAL AREA RENOVATION
Section 1035.70 - Audit Guidelines

Universal Citation: 23 IL Admin Code ยง 1035.70

Current through Register Vol. 48, No. 38, September 20, 2024

a) To fulfill audit requirements in Section 1035.50(b)(4), institutions shall contract with an external auditor who is registered as a public accountant by the Illinois Department of Registration and Education. The cost of the audit is an authorized use of grant funds.

b) The auditors shall obtain copies of the following grant documents: the institution's application; the certified grant agreement; a copy of the most recent Board of Higher Education Statewide Space Survey document submitted by the institution; and a copy of this Part.

c) The auditors shall verify the claim of eligible gross square feet.

d) The auditors shall verify the expenditure of funds as provided for in this Part, and shall ensure that funds were expended on projects listed in the grant agreement.

e) The auditors shall verify that renovation of sectarian facilities has not been supported by grant funds.

f) The auditors shall provide an audit to the Board including a description of the tests performed and the audit findings.

g) Refunds shall be made to the State by the institutions for the following reasons:

1) Grant funds not expended;

2) Grant funds expended for purposes not covered under the grant agreement.

Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.