Section 117.96. Financial record requirements

Latest version.

(a) The municipality is required to establish and maintain separate files and records of project transactions. This will include applications, correspondence, loan contracts, paid invoices and cancelled checks. Loan proceeds and local matching funds shall be deposited in a special project account.
(b) The Department may require the completion and submission of financial statements or audits, or both, prior to satisfaction of indebtedness.

The provisions of this § 117.96 adopted August 21, 1992, effective August 22, 1992, 22 Pa.B. 4315.

Notation

Authority

The provisions of this § 117.96 issued under section 7 of the Local Government Capital Project Loan Fund Act (53 P. S. § 6781-7).

                    
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