Connecticut General Statutes 10a-210 – Annual report; content. Review of operating budget
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(a) The corporation shall make an annual report, on or before December thirty-first for the fiscal year ending September thirtieth, of its condition to the Governor, as provided in section 4-60, to the Board of Regents for Higher Education and to the General Assembly. The report shall include, in addition to the corporation‘s financial statement, a copy of the report that the corporation submits annually to the United States Department of Education.
Terms Used In Connecticut General Statutes 10a-210
- Board: means the board of directors of the Connecticut Student Loan Foundation, as provided in section 10a-203a. See Connecticut General Statutes 10a-202
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Connecticut Student Loan Foundation that is a subsidiary of the Connecticut Health and Educational Facilities Authority as provided in section 10a-203a. See Connecticut General Statutes 10a-202
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) The board shall review, at least once during each calendar quarter, the actual operating budget of the corporation to ensure that revenues and expenditures are remaining within annual budget projections.