17 Guam Code Ann. § 15103
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Terms Used In 17 Guam Code Ann. § 15103
- 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.
There is hereby established a Student Financial Assistance Fund hereinafter referred to as the “”Fund”” from which awards granted pursuant to this Chapter shall be financed. The Board is authorized to accept for the Fund gifts, devices, bequests, donations and all other kinds of contributions for the purposes of the Fund. The Fund may be supplemented by annual appropriations to the extent made necessary by awards granted pursuant to this Chapter. The Fund shall be administered by the Board and all moneys appropriated for awards pursuant to this Chapter and all repayment of such awards, made under this Chapter, shall be paid directly to the Fund and dispensed by the Board. Within sixty (60) days after the closing of each fiscal year the Board shall transmit to the Governor and Legislature an annual report of the expenditures of the Fund, including, but not limited to, a balance sheet, statement of receipts and expenses,
and a general description of the income sources of the Fund and the expenses thereof.
SOURCE: GC § 11802, as R/R by P.L. 11-138.