(a) Expenditure Restrictions--For awards prior to September 1, 2009, qualified expenditures are further defined as salary/payroll expenditures and/or contract expenditures for contracts for nursing faculty or nursing preceptor positions. This restriction does not apply to any Professional Nursing Shortage Reduction program awards made after August 31, 2009.
(b) Accounting Requirements--Each award from this program shall be accounted for separately in the books and records of receiving institutions.
(c) Audit Provisions--Any awards made under this program or data submitted under this program are subject to audit by internal and/or external auditors, including Coordinating Board staff. Institutions that receive an award of $500,000 or more shall submit an independent audit report for that award to the Coordinating Board within six months after the end of the fiscal year in which that award's funds have completely been expended. Institutions that receive an award of less than $500,000 shall have their internal auditor include the award as a part of its annual risk assessment for audit review. If the award is selected for further review, the internal auditor shall provide the Coordinating Board a copy of its audit report. Audits should determine if awards were expended in compliance with allowable award expenditures.

Source Note: The provisions of this §22.508 adopted to be effective February 18, 2008, 33 TexReg 1326; amended to be effective November 18, 2008, 33 TexReg 9232; amended to be effective August 26, 2009, 34 TexReg 5689; amended to be effective August 26, 2010, 35 TexReg 7210; amended to be effective May 24, 2011, 36 TexReg 3186