Sec. 6z-101. The Grant Accountability and Transparency Fund.

315 words·~1 min read·/il/chapter-30/act-105/6z-101

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(a)The Grant Accountability and Transparency Fund is hereby created in the State Treasury. The following moneys shall be deposited into the Fund:

(1)grants, awards, appropriations, cost sharings, inter-fund transfers, gifts, and

bequests from any source, public or private, in support of activities authorized under the Grant Accountability and Transparency Act;

(2)federal funds received as a result of cost allocation or indirect cost

reimbursements;

(3)interest earned on moneys in the Fund; and

(4)receipts or inter-fund transfers resulting from billings issued by the Governor's

Office of Management and Budget to State agencies for the costs of services rendered pursuant to the Grant Accountability and Transparency Act.

(b)State agencies may direct the Comptroller to process inter-fund transfers or make payment through the voucher and warrant process to the Grant Accountability and Transparency Fund in satisfaction of billings issued under subsection (a).

(c)Moneys in the Grant Accountability and Transparency Fund may be used by the Governor's Office of Management and Budget for costs in support of the implementation and administration of the Grant Accountability and Transparency Act and Budgeting for Results.

(d)The Governor's Office of Management and Budget may require reports from State agencies as deemed necessary to perform cost allocation reconciliations in connection with services provided and expenses incurred in the administration of the Grant Accountability and Transparency Act. In the event that, in any fiscal year, the payments or inter-fund transfers are in excess of the costs of services provided in that fiscal year, the Governor's Office of Management and Budget may use one or a combination of the following methods to return excess funds:

(1)order that the amounts owed by the State agency in the following fiscal year be

offset against such excess amount;

(2)direct the Comptroller to process an inter-fund transfer; or

(3)make a refund payment.