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SGIMS Intranet       Monday, November 23rd 2009 (89th Session)
Archived Content -- 87th Session

GB 78, Formal Financial Reporting Act

Formal Financial Reporting Act
GB 78, 87th Session
Version Info:
1-28-2008, as initially introduced: HTML
Version Downloads (Senators only).
Basic Information:
Primary Sponsor(s):
P. Barnes (Corresponding)
Current Status:
Adopted by Senate
Report(s):
GO-45
Long Title:
A BILL TO BE ENTITLED AN ACT TO REQUIRE MONTHLY FORMAL FINANCIAL REPORTS FOR STUDENT GOVERNMENT SPENDING
Summary of Purpose:
REQUIRE MONTHLY FORMAL FINANCIAL REPORTS FOR STUDENT GOVERNMENT SPENDING TO THE TREASURY AND FINANCE COMMITTEE
Consideration History:
1-28-2008:
Filed for introduction
1-30-2008 Senate:
First Reading
Referred to the Government Operations Committee by the Student Senate President
2-6-2008 Committee:
Government Operations Committee Consideration
The Government Operations Committee reported the bill to Senate, GO-45
2-13-2008 Senate:
Second Reading
Adopted by consent

Online Text

(as of 1-28-2008, as initially introduced)

GOVERNMENT BILL 78

 

A BILL TO BE ENTITLED

An act To Require Monthly Formal financial reports

for student government spending

 

Short Title:  Formal Financial Reporting Act                                                                           (Public)

Sponsored by:  Senator Barnes (corresponding)

First Reading:  January 30th, 2008                                                Version Date:  January 28th, 2008

Referred to:                                                                                      .

 

WHEREAS, now student government officials are not required to formally report expenditures of student government funds monthly; and,

 

WHEREAS, much confusion has been caused due to miscommunication and the lack of formal procedures; and,

 

WHEREAS, the lack of these procedures flies in the face of common sense and general good business practices; and,

 

WHEREAS, accountability for student fee money must be maintained in the most precise manner; now, therefore be it

 

ENACTED,    by the North Carolina State University Student Senate that:

 

Section 1.  Article 1 of the Chapter 5 Student Body Statutes shall be amended and creation of a new §5-1.18.c the following inserted:

 

§5-1.18.c Financial Reporting Procedures of Expenditures

All persons in charge of a line item in the budget shall provide a written report to the Finance Committee by the first day of the month detailing expenditures for the previous month.

(a)    Failure to do so will result in the immediate freezing of that line item until the written report is provided.

(b)   Copies of these reports will be maintained by the Treasury after submission for record keeping purposes and copies made available to any and all requesting parties.

 

Section 2.        This act shall be effective upon its enrollment.

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