North Dakota § 15-55-20 Financial records required

North Dakota Statutes

§ 15-55-20 — Financial records required

North Dakota·Title 15 Education·Ch. 15-55 Construction of Revenue-Producing Buildings

Each institution under the control of the state board of higher education which has
constructed student housing, a food service facility, or a student union under the provisions of
this chapter shall maintain records of financial accounts to provide a record of revenues
received and expenses incurred in the use of such revenue-producing building. The definition of
"expenses incurred" includes, but is not limited to, the estimated value of heat, electricity, water,
repairs, insurances, and janitorial and maintenance services provided. From the information
recorded in such records, appropriate financial statements must be prepared and included in the
institutions' published and audited annual or biennial financial reports.

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Each institution under the control of the state board of higher education which has
constructed student housing, a food service facility, or a student union under the provisions of
this chapter shall maintain records of financial accounts to provide a record of revenues
received and expenses incurred in the use of such revenue-producing building. The definition of
"expenses incurred" includes, but is not limited to, the estimated value of heat, electricity, water,
repairs, insurances, and janitorial and maintenance services provided. From the information
recorded in such records, appropriate financial statements must be prepared and included in the
institutions' published and audited annual or biennial financial reports.

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