- (a) The commission shall biennially engage an independent third party examiner to audit the data submitted by each state educational institution for use within the outcomes based funding formula.
- (b) If the audit required under subsection (a) is performed by the state board of accounts, the state educational institutions shall pay the actual and indirect costs of performing the audit.
- (c) The commission shall promptly submit a copy of each audit report produced under subsection (a) to the audit and financial reporting subcommittee of the legislative council in an electronic format under IC 5-14-6 .
As added by P.L.66-2022, SEC.4. Amended by P.L.201-2023, SEC.229.