Sec. 6. (a) The commission shall biannually engage an independent third party examiner to audit the data submitted by each state educational institution for use within the outcomes based funding formula.
(b) If the audit required under subsection (a) is performed by the state board of accounts, the state educational institutions shall pay the actual and indirect costs of performing the audit.
(c) The commission shall promptly submit a copy of each audit report produced under subsection (a) to the audit and financial reporting subcommittee of the legislative council in an electronic format under IC 5-14-6.
As added by P.L.66-2022, SEC.4.
Structure Indiana Code
Article 18. Commission for Higher Education
Chapter 16. Outcomes Based Funding Formula
21-18-16-1. "Outcomes Based Funding Formula"
21-18-16-2. Duty to Create Formula; Align With Long Range Plan for Postsecondary Education
21-18-16-3. Funding Formula Subject to Review by Budget Committee; Funding Formula Report
21-18-16-4. Duty to Present Funding Results for Each State Educational Institution at Budget Hearing
21-18-16-6. Audit of Data Submitted by Educational Institutions