Each qualifying institution and the board annually shall prepare an independent accounting of all of the funds in its Environmental Scholars Endowment, including a statement of the value of the corpus of the fund, the income derived from the corpus, and the specific uses to which the income has been applied. The reports must be kept on file at the institution and at the board and must be available for inspection upon request.
HISTORY: 1994 Act No. 497, Part II, Section 104.