§ 22-2-108 — Federal financial assistance

(1) The state board of education is
authorized to accept, use, and administer all moneys and properties granted or
made available to the state or any agency thereof for an educational purpose,
except those moneys and properties granted or made available for such purpose to
another such agency specifically designated.

(2) If it is necessary to execute a formal agreement with a federal agency or
officer as a condition precedent to receiving federal moneys or property pursuant
to subsection (1) of this section, the state board is authorized to execute such an
agreement, with the approval of the attorney general, provided such agreement
shall not be inconsistent with law.

(3) The state treasurer is authorized to receive any moneys accepted
pursuant to the provisions of subsection (1) of this section as official custodian
thereof, and he shall disburse said moneys upon the order of the state board.

(4) By July 1, 2005, and by July 1 of each year thereafter, the state board shall
submit a report to the education committees of the senate and house of
representatives, or any successor committees, detailing the total amount of federal
funds received by the state board in the prior fiscal year, accounting how the funds
were used, specifying the federal law or regulation that governs the use of the
federal funds, if any, and providing information regarding any flexibility the state
board has in using the federal funds.

Legislative History

Source: L. 64: R&RE, p. 532, � 1. C.R.S. 1963: � 123-1-8. L. 2005: (4) added, p. 440, � 18, effective April 29.