New York Laws
Article 66 - Interstate Compact on Educational Oppurtunity for Military Children
3314 - Financing of the Interstate Commission.

§ 3314. Financing of the interstate commission. 1. The interstate
commission shall pay, or provide for the payment of the reasonable
expenses of its establishment, organization and ongoing activities.

2. The interstate commission may levy on and collect an annual
assessment from each member state to cover the cost of the operations
and activities of the interstate commission and its staff which must be
in a total amount sufficient to cover the interstate commission's annual
budget as approved each year. The aggregate annual assessment amount
shall be allocated based upon a formula to be determined by the
interstate commission, which shall promulgate a rule binding upon all
member states.

3. The interstate commission shall not incur obligations of any kind
prior to securing the funds adequate to meet the same; nor shall the
interstate commission pledge the credit of any of the member states,
except by and with the authority of the member state.

4. The interstate commission shall keep accurate accounts of all
receipts and disbursements. The receipts and disbursements of the
interstate commission shall be subject to the audit and accounting
procedures established under its bylaws. However, all receipts and
disbursements of funds handled by the interstate commission shall be
audited yearly by a certified or licensed public accountant and the
report of the audit shall be included in and become part of the annual
report of the interstate commission.