Iowa Code 261A.21 – Annual report
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The authority shall keep an accurate account of its activities and shall annually provide a report of its activities to the governor and the members of the general assembly. The report is a public record and open for inspection at the offices of the authority during normal business hours. The report shall include all of the following:
1. Summaries of applications by institutions of higher education for education loan financing assistance presented to the authority during the fiscal year.
Terms Used In Iowa Code 261A.21
- Authority: means the Iowa higher education loan authority created by this chapter, and "members of the authority" means those persons appointed to the authority pursuant to section 261A. See Iowa Code 261A.4
- Education loan: means a loan which is made by an institution to a student or parents of a student, or both, in amounts not in excess of the maximum amounts specified in rules adopted by the authority under chapter 17A to finance all or a portion of the cost of the student's attendance at the institution. See Iowa Code 261A.4
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Loan: means a deposit of property not accompanied by a transfer of title to the property. See Iowa Code 305B.2
- Obligations: means bonds, notes, or other evidences of indebtedness of the authority, including interest coupons pertaining thereto, issued under this chapter, including refunding bonds. See Iowa Code 261A.4
- year: means twelve consecutive months. See Iowa Code 4.1
2. Summaries of education loan programs which have received any form of financial assistance from the authority during the year.
3. The nature and amount of all assistance.
4. A report concerning the financial condition of the various education loan series portfolios.
5. Projected activities of the authority for the next fiscal year, including projections of the total amount of financial assistance anticipated and the amount of obligations that will be necessary to provide the projected level of assistance during the next fiscal year.