§18-27-17 Account of activities; receipts and expenditures; annual report; audit.
§18-27-17. Account of activities; receipts and expenditures; annual report; audit.
The board shall keep an accurate account of all its activities and of all its receipts and expenditures and shall annually in the month of January make a report thereof to its members, to the governor, the state treasurer, the clerk of the House of Delegates, the clerk of the Senate, and the commissioner of the department of finance and administration. Such report is a public record and open for inspection at the offices of the board during normal business hours. The report shall include: (a) Summaries of all applications by institutions of higher education for education loan financing assistance presented to the members of the board during such fiscal year; (b) summaries of all education loan programs which have received any form of financial assistance from the board during such year; (c) the nature and amount of all such assistance; (d) a report concerning the financial condition of the various education loan series portfolios; and (e) projected activities of the board for the next fiscal year, including projections of the total amount of financial assistance anticipated and the amount of revenue bonds or other evidences of indebtedness that will be necessary to provide the projected level of assistance during the next fiscal year. The auditor of the state of West Virginia may investigate the affairs of the board, may examine the properties and records of the board, and may prescribe methods of accounting and the rendering of periodical reports in relation to financings undertaken by the board.