Section 42 - Acceptance, distribution, and accounting of federal funds(a) The State Treasurer, acting upon the order of the Secretary, shall accept, distribute, and account for federal funds available for use by the Agency. Funds shall be distributed and accounted for by the State Treasurer in accordance with the laws of Vermont, but if there is a conflict between those laws and the laws or regulations of the United States, then federal law shall apply. The Secretary shall prepare and submit federally required statements of funds received and disbursed. The Secretary shall cause an audit to be made of the federal funds and shall submit a copy of the audit as required by federal law. The audit shall be supported by any reports from the supervisory union, local school districts, or other recipients of federal funds as may be required by the Secretary or the federal government.(b) The State Treasurer may directly deposit checks payable to a supervisory union or any school district within it or may deliver checks to the superintendent of the supervisory union.Added 1969, No. 298 (Adj. Sess.), § 20; amended 1987, No. 228 (Adj. Sess.), § 8; 2013, No. 92 (Adj. Sess.), § 18, eff. 2/14/2014.