Each principal shall be accountable for the specific application of Y Kuentan Salappe’ Prinsepat funds. Receipts and records of the purchase of the items shall be made into a balance sheet and submitted to the Director of Education on January 15, April 15, June 15 and September 30 of each year.
If any principal is unable to provide receipts or proof of expenditure of funds, this shall subject the principal to civil or criminal penalties. The principal of each school will be held personally liable for any unaccounted funds. Inability of any principal to account for the expenditures of these funds, or the spending of the funds for unauthorized purposes, shall be reported to the Attorney General’s office for disposition, and shall subject the principal to disciplinary action if warranted.

SOURCE: Amended by P.L. 23-128:IV:29(b).