Statutes, codes, and regulations
Colorado Administrative Code
Department 300 - DEPARTMENT OF EDUCATIONDivision 301 - COLORADO STATE BOARD OF EDUCATION
Rule 1 CCR 301-22 - REGIONAL LIBRARY SERVICE SYSTEM
Rule 1 CCR 301-22.2490-R-74.00 - Funding, Reporting, and Fiscal Year

1 Colo. Code Regs. § 301-22.2490-R-74.00

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Current through Register Vol. 47, No. 22, November 25, 2024
Rule 1 CCR 301-22.2490-R-74.00 - Funding, Reporting, and Fiscal Year
74.01Funding
74.01 (a) Funds appropriated by the Colorado General Assembly for a Regional Library Service System will be allocated by the Colorado State Librarian, or designee. Elements for allocation may include, but need not be limited to: basic administrative costs, other factors related to System service areas, and the State's Long Range Plan for libraries.
74.01 (b) A System will receive 90% of its total annual state funding upon receipt and approval of the System's next fiscal year Annual Plan by the Colorado State Librarian, or designee.
74.01 (c) A System will receive 10% of its total annual state funding upon receipt and approval of the Annual Report for the previous fiscal year required in Rule 2490-R-74.02 (b) by the Colorado State Librarian or designee.
74.01 (d) These regulations will not be construed in such a way as to restrict or hamper the Governing Board in obtaining or accepting private financial support, supplementary public funding, or grants from any agency, public or private, or entering into remunerative contracts or agreements in accord with the System Annual or Long Range Plan.
74.02Reporting
74.02 (a) The Governing Board will have the System's financial records audited annually in accordance with generally accepted auditing principles. The written audit shall be submitted to the Colorado State Librarian, or designee, no more than six months after the close of the System's fiscal year.
74.02 (b) The Governing Board will submit an Annual Report providing statistical and narrative information requested by the Colorado State Librarian, or designee. The Annual Report will include a report of activities related to goals and objectives in the System's Annual Plan, and sources of income of System activities. This document is to be submitted to the Colorado State Librarian or designee no later than 90 days after the close of the System's fiscal year.
74.03 Fiscal Year. The fiscal year of the Systems will be determined by the Colorado State Librarian, or designee.

1 CCR 301-22.2490-R-74.00