1. (a) Expenditure Restrictions--As per statute Qualified expenditures are further defined as salary/payroll expenditures and/or contract expenditures for contracts for nursing faculty or nursing preceptor positions.
2. (b) Accounting Requirements--Each award from this program shall be accounted for separately in the books and records of receiving institutions.
3. (c) Audit Provisions--Any awards made under this program or data submitted under this program are subject to audit by internal and/or external auditors, including Coordinating Board staff. Institutions that receive an award of $500,000 or more shall submit an independent audit report to the Coordinating Board within six months after the end of the award fiscal year. Institutions that receive an award of less than $500,000 shall have their internal auditor include the award as a part of its annual risk assessment for audit review. If the award is selected for further review, the internal auditor shall provide the Coordinating Board a copy of its audit report. Audits should determine if awards were expended in compliance with allowable award expenditures.

Source Note:The provisions of this §22.508 adopted to be effective February 18, 2008, 33 TexReg 1326; amended to be effective November 18, 2008, 33 TexReg 9232; amended to be effective August 26, 2009, 34 TexReg 5689.