1. The board of directors of each community college shall determine, in consultation with the legislative services agency, the financial information to be included in line item budget information for projects funded by the issuance of bonds or notes under this chapter and shall submit the line item budget information to the general assembly as requested. The board of directors of each community college shall submit quarterly reports to the general assembly concerning the projects funded by the issuance of bonds or notes under this chapter as follows:

 a. Identification of both undercharges and overcharges for line items of projects.
 b. Identification of contracts in which any line item for a project exceeds the adopted budget for that line item by ten percent or more.
 c. Identification of complaints received by an institution regarding the construction of a project.

Terms Used In Iowa Code 260C.66

  • Board: means a board of directors of a community college. See Iowa Code 260C.56
  • Bonds: means revenue bonds which are payable solely as provided in this section and section 260C. See Iowa Code 260C.71
  • Bonds or notes: means revenue bonds or revenue notes which are payable solely from net rents, profits, and other income derived from the operation of residence halls, dormitories, incidental facilities, and additions. See Iowa Code 260C.56
  • Community college: means a publicly supported school which may offer programs of adult and continuing education, lifelong learning, community education, and up to two years of liberal arts, preprofessional, or occupational instruction partially fulfilling the requirements for a baccalaureate degree but confers no more than an associate degree; or which offers as the whole or as part of the curriculum up to two years of career and technical education, training, or retraining to persons who are preparing to enter the labor market. See Iowa Code 260C.2
  • Institution: means a community college organized under this chapter. See Iowa Code 260C.56
  • Project: means the acquisition by purchase, lease in accordance with section 260C. See Iowa Code 260C.56
 2. If the board of directors of a community college approves a change in the amount of the line item of a budget for a project, the change shall be transmitted to the appropriations committees of the house of representatives and senate, while the general assembly is in session, and to the legislative council, when the general assembly is not in session, for review.
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