Current through Register Vol. 51, No. 3, September 1, 2024
NECESSITY, FUNCTION, AND CONFORMITY:
KRS
164.518(3) requires the
authority to promulgate administrative regulations for administration of the
Early Childhood Development Scholarship Program. This administrative regulation
establishes requirements for maintaining records under the Early Childhood
Development Scholarship Program.
Section
1. Record Maintenance.
(1) The
participating early childhood facility shall:
(a) Maintain complete and accurate records
pertaining to the scholarship recipient's eligibility for the scholarship and
monetary incentives established by the recipient's employment and records
pertaining to the payment of monetary incentives by the participating early
childhood facility; and
(b) Retain
the records for three (3) years following the year in which the scholarship
recipient applied for the scholarship.
(2) The participating educational institution
shall:
(a) Maintain complete and accurate
records pertaining to the eligibility, enrollment, and progress of students
receiving aid under this program and the disbursement of funds and
institutional charges as may be necessary to audit the disposition of these
funds; and
(b) Retain the records
for three (3) years following the year in which the student ceases to be
enrolled at the educational institution.
(3) The professional development counselor
shall:
(a) Maintain complete and accurate
records pertaining to the scholarship recipient's eligibility for the
scholarship and monetary incentives, including:
1. A copy of the scholarship recipient's
signed applications for the scholarship;
2. Documents establishing eligibility for
monetary incentives pursuant to
11
KAR 16:060; and
3. Record of disbursements of monetary
incentives; and
(b)
Retain the records for three (3) years following the year in which the
scholarship recipient applied for the scholarship.
(4) ECAC shall forward to the authority not
less frequently than once per year the original applications of all scholarship
recipients to be retained by the authority for audit purposes.
(5) All documentation and correspondence
relating to the cancellation, disbursement, and refund of scholarships shall be
retained by the authority for a period of three (3) years following the year in
which the scholarship was disbursed.
Section 2. Records retained pursuant to this
administrative regulation shall be retained in any format used by the
organization retaining the records for storage of its records in the normal
course of business.
