The authority shall maintain a system of accounts in accordance with generally accepted accounting procedures and standard accounting procedures and systems established by the state, where applicable, which shall, among other things, properly identify and account for all funds received by the authority, the source of such funds, and all expenditures of the authority. Agency, federal, and other funds of the authority determined to be available for such purposes may be used to pay expenses and operating costs incurred by the authority or incurred by the corporation under Part 3 of this article, including payment to the commission to defray expenses and operating costs of the authority or of the corporation paid or to be paid by the commission for or on behalf of the authority or the corporation. No funds of the authority shall lapse to the state as of the close of any fiscal year.
History. Code 1933, § 32-3708, enacted by Ga. L. 1980, p. 835, § 3.
Structure Georgia Code
Chapter 3 - Postsecondary Education
Article 7 - Scholarships, Loans, and Grants
Part 3 - Georgia Student Finance Authority
Subpart 1 - General Provisions
§ 20-3-311. Legislative Findings; Purposes of Authority
§ 20-3-313. Authority Created as Successor to Georgia Higher Education Assistance Authority
§ 20-3-314. Functions, Composition, Organization, and Conduct of Affairs of Board of Directors
§ 20-3-315. Authority Officers and Employees; Bonds
§ 20-3-317. Accounting System; Use of Funds; Payments to Commission
§ 20-3-318. Authority Administration Fund
§ 20-3-320. Audits of Authority; Distribution of Audit Reports
§ 20-3-321. School Audits; Program Reviews; Corrective Actions
§ 20-3-322. Contributions Deductible for Tax Purposes
§ 20-3-323. Conflicts of Interest Involving Directors, Officers, or Employees of Authority
§ 20-3-324. Authority Assigned to Commission
§ 20-3-325. Dissolution of Authority
§ 20-3-326. Venue of Proceedings Against Authority
§ 20-3-327. General Banking Business by Authority Prohibited