Illinois Administrative Code
Title 23 - EDUCATION AND CULTURAL RESOURCES
Part 1501 - ADMINISTRATION OF THE ILLINOIS PUBLIC COMMUNITY COLLEGE ACT
Subpart E - FINANCE
Section 1501.519 - Special Initiatives Grants

Universal Citation: 23 IL Admin Code ยง 1501.519

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

a) Allowable expenditures for special initiatives grants will be specified in the grant agreement between the college or vendor and ICCB.

b) Special initiatives grant funds shall be accounted for in a restricted account.

c) The community college district or other vendor shall file a report with ICCB in a format used by ICCB or in accordance with the grant agreement, detailing how the funds were used.

d) Special initiatives grant funds shall be expended by the date specified in the grant agreement. If the grant agreement allows, goods and services for which funds have been obligated by the contract end date shall be received and paid for not later than 60 days after the grant agreement end date. Unexpended funds shall be returned to ICCB on or before December 30.

e) Special initiatives grant funds not used in accordance with the terms specified in the grant agreement regardless of the amount shall be returned to ICCB within six months after receipt of the external audit report by ICCB or other identification of improper expenditures subsequently verified by ICCB.

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