Michigan Laws 390.1101 – Institutions of higher education; accounting to legislature
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Terms Used In Michigan Laws 390.1101
- 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.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
The governing board of each state supported institution of higher education shall submit to the state legislature through the legislative auditor general, on or before November 1 of each year, an annual accounting in triplicate of all income and expenditures of the institution for its last preceding fiscal year, in accordance with procedures prescribed by the legislative auditor general.