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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2014 ENROLLED
SENATE BILL NO. 460
BY SENATOR ADLEY
AN ACT1
To amend and reenact R.S. 17:4022(3) and R.S. 24:513(A)(1)(b)(iv), relative to the2
legislative auditor; to provide relative to public funds received by schools as tuition3
payments under the Student Scholarships for Educational Excellence Program; to4
provide authority to the legislative auditor; and to provide for related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 17:4022(3) is hereby amended and reenacted to read as follows:7
§4022. Participating schools; requirements8
Each participating school shall:9
* * *10
(3) Submit to the department an independent financial audit of the school11
conducted by a certified public accountant who has been approved by the legislative12
auditor. Such audit shall be accompanied by the auditor's statement that the report13
is free of material misstatements and fairly presents the participating school's14
maximum tuition or actual cost of educating a student pursuant to R.S. 17:4016. The15
audit shall be limited in scope to those records necessary for the department to make16
scholarship payments to the participating school and shall be submitted to the17
legislative auditor for review and investigation of any irregularities or audit findings.18
The participating school shall account for all scholarship funds separately from19
other funds by maintaining funds in a separate account or by using accounting20
procedures that allow the legislative auditor to identify the separate funds21
pursuant to the authority of this Section. Such accounting shall allow for22
thorough auditing of the receipt and expenditure of state scholarship funds23
allocated through the Louisiana Department of Education. The participating24
school shall return to the state any funds that the legislative auditor determines were25
expended in a manner inconsistent with state law or program regulations. The cost26 SB NO. 460 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
of such audit shall be paid by the department from funds appropriated by the1
legislature to implement the provisions of this Chapter.2
* * *3
Section 2. R.S. 24:513(A)(1)(b)(iv) is hereby amended and reenacted to read as4
follows:5
§513. Powers and duties of legislative auditor; audit reports as public records;6
assistance and opinions of attorney general; frequency of audits;7
subpoena power8
A.(1) * * *9
(b) For the sole purpose of this Subsection, a quasi public agency or body is10
defined as:11
* * *12
(iv) Any not-for-profit organization that receives or expends any local or state13
assistance in any fiscal year. Assistance shall include grants, loans, transfers of14
property, awards, and direct appropriations of state or local public funds. Assistance15
shall not include guarantees, membership dues, vendor contracts for goods and16
services related to administrative support for a local or state assistance program,17
assistance to private or parochial schools except as provided in R.S. 17:4022,18
assistance to private colleges and universities, or benefits to individuals.19
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PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: