§ 10-10-104. ADMINISTRATION OF THE FUND.

(a)

Joint administration. The Director of Economic and Workforce Development and the Director of Budget and Finance shall administer the Fund according to accepted principles of sound accounting and fiscal management.

(b)

Determination of rates and terms. Except as provided in Subtitle 2 of this title, the Director of Economic and Workforce Development shall recommend, and the Director of Budget and Finance shall approve, the rates to be charged and the terms for the financial assistance provided under this title.

(c)

Determination of accounting methods. In consultation with the Director of Budget and Finance, the Director of Economic and Workforce Development, or the Director of Planning, as applicable, shall determine the terms of and the method and procedures for accounting for:

(1)

Financial assistance from the Fund; and

(2)

Payments by or charges against the Fund.

(d)

Collection of accounts and records. The Director of Budget and Finance shall:

(1)

Collect repayments on accounts, subject to the terms and conditions contained in the financial assistance documents; and

(2)

Maintain records in accordance with generally accepted accounting principles.

(1988 Code, §§ 15-351, 15-352) (Bill No. 149-93, § 1, 11-22-1993; Bill No. 49-96, § 9, 7-1-1996; Bill No. 66-96, § 2, 6-7-1996; Bill No. 83-00, § 2, 7-1-2004; Bill No. 15-13, § 1, 4-14-2013; Bill No. 71-13, § 1, 2-3-2014)