§ 22-43.7-111. Reporting Requirements – Auditing by State Auditor

1. Notwithstanding section 24-1-136 (11)(a)(I), no later than February 15, 2010, and no later than each February 15 thereafter, the board shall present a written report to the education and finance committees of the house of representatives and the senate and the capital development committee, or any successor committees, regarding the provision of financial assistance to applicants pursuant to this article 43.7. The report must include, at a minimum:
   1. An accounting of the financial assistance provided through the prior fiscal year that includes:
      1. A statement of the aggregate amount of financial assistance awarded through the prior fiscal year, including statements of the amount of grants provided, and the amount of payments made and payments committed to be made but not yet made in connection with financed purchase of an asset or certificate of participation agreements;
      2. A statement of the aggregate amount of financial assistance provided as grants and the aggregate amount of payments made in connection with financed purchase of an asset or certificate of participation agreements during the prior fiscal year;
      3. A list of the public school facility capital construction projects for which financial assistance has been provided, which must include:
         1. A sublist of projects for which financial assistance has been provided in the form of technology grants pursuant to section 22-43.7-109 (13);
         2. A sublist of projects for which financial assistance has been provided in the form of career and technical education capital construction grants pursuant to section 22-43.7-109 (14);
         3. A brief description of each project;
         4. A statement of the amount and type of financial assistance provided for each project and, where applicable, the amount of financial assistance committed to be provided for but not yet provided for each project;
         5. A statement of the amount of matching money provided by the applicant for each project and, where applicable, the amount of matching money committed to be provided by the applicant but not yet provided for each project; and
         6. A summary of the reasons of the board and the state board for providing financial assistance for the project; and
      4. A list of the public school facility capital construction projects for which financial assistance has been provided during the prior fiscal year, which must include:
         1. A sublist of projects for which financial assistance has been provided in the form of technology grants pursuant to section 22-43.7-109 (13);
         2. A sublist of projects for which financial assistance has been provided in the form of career and technical education capital construction grants pursuant to section 22-43.7-109 (14);
         3. A brief description of each project;
         4. A statement of the amount and type of financial assistance provided for each project; and
         5. A statement of the amount of matching money provided by the applicant for each project.
   2. A summary of the findings and conclusions of any public school facility inspections conducted during the prior fiscal year;
   3. A summary of any differences between the common physical design elements and characteristics of the highest performing schools in the state and the lowest performing schools in the state as measured by academic productivity measures such as the state assessments administered pursuant to section 22-7-1006.3 or Colorado ACT results; and
   4. A list of the financial assistance applications for public school facility capital construction that were denied financial assistance during the prior fiscal year, which must include a sublist of denied applications for projects for which financial assistance in the form of technology grants was requested pursuant to section 22-43.7-109 (13) and a sublist of denied applications for which financial assistance in the form of career and technical education capital construction grants was requested pursuant to section 22-43.7-109 (14), and that includes for each project:
      1. A brief project description;
      2. A statement of the amount and type of financial assistance requested for the project;
      3. A statement indicating whether or not the board recommended a financial assistance award for the project; and
      4. A summary of the reasons why the board or the state board denied financial assistance for the project.
   5. An estimate, to the extent feasible, of the total amounts of revenues to be credited to the assistance fund during the current fiscal year and the next fiscal year and financial assistance to be awarded during the next fiscal year, including separate estimates of the total amounts of financial assistance to be awarded as cash grants and under the terms of financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2).
2. No later than February 15, 2014, the board shall prepare and make available electronically on the website of the department a report to the taxpayers of the state regarding the provision of financial assistance to applicants pursuant to this article during the five prior fiscal years. The report shall include, at a minimum, the information specified in subsection (1) of this section for each of the five prior fiscal years and an aggregation of any of such information that can feasibly be aggregated for the full five-year period.
3. Repealed.

Source: L. 2008: Entire article R&RE, p. 1060, § 1, effective May 22. L. 2013: IP(1) amended and (1)(e) added, (SB 13-214), ch. 398, p. 2327, § 5, effective June 5. L. 2015: IP(1) and (1)(c) amended, (HB 15-1323), ch. 204, p. 725, § 36, effective May 20. L. 2017: (3) repealed, (SB 17-294), ch. 264, p. 1396, § 50, effective May 25; IP(1), (1)(a)(III), (1)(a)(IV), and IP(1)(d) amended, (HB 17-1082), ch. 392, p. 2022, § 5, effective June 6; IP(1) amended, (HB 17-1267), ch. 242, p. 997, § 17, effective August 9. L. 2019: (1)(a)(III), (1)(a)(IV), and IP(1)(d) amended, (HB 19-1008), ch. 19, p. 71, § 3, effective August 2. L. 2021: (1)(a)(I), (1)(a)(II), and (1)(e) amended, (HB 21-1316), ch. 325, p. 2011, § 20, effective July 1.

Editor’s note: Amendments to the introductory portion of subsection (1) by HB 17-1082 and HB 17-1267 were harmonized.