Sec. 10a-240. Report of authority.
Sec. 10a-240. Report of authority. The authority shall keep an accurate account
of all its activities and of all its receipts and expenditures and shall, annually, in the
month of December, make a report thereof to its board of directors, to the Governor, to
the state Auditors of Public Accounts and to the joint standing committees of the General
Assembly having cognizance of matters relating to education and finance, revenue and
bonding. The report shall be in a form prescribed by the members, with the written
approval of said auditors. The report shall include: (1) Summaries of all applications
by borrowers for education loan financing assistance presented to the authority during
such fiscal year; (2) summaries of all education loan programs which have received any
form of financial assistance from the authority during such year; (3) the nature and
amount of all such assistance; (4) a report concerning the financial condition of the
various education loan series portfolios; (5) a statement of the number of students assisted by education loans who attended Connecticut institutions for higher education
and the number of such students who attended institutions for higher education outside
of the state and the amount loaned for each category of students, and (6) projected
activities of the authority for the next fiscal year, including projections of the total
amount of financial assistance anticipated and the amount of revenue bonds or notes or
other evidences of indebtedness that will be necessary to provide the projected levels
of assistance during the next fiscal year. The members or said auditors may investigate
the affairs of the authority, may severally examine the properties and records of the
authority, and may prescribe methods of accounting and the rendering of periodical
reports in relation to projects undertaken by the authority.
(P.A. 82-313, S. 20, 28; P.A. 87-295, S. 6, 8; P.A. 88-266, S. 30, 46.)
History: P.A. 87-295 substituted "December" for "January", provided that the report be made to the joint standing
committees of the general assembly having cognizance of matters relating to education and finance, revenue and bonding,
in Subdiv. (1) substituted "borrowers" for "institutions for higher education", added new Subdiv. (5) re students attending
in-state and out-of-state institutions, renumbered old Subdiv. (5) as new Subdiv. (6) and made technical changes; P.A. 88-266 substituted "board of directors" for "members".