# COMAR Title 14 — Independent Agencies

## Subtitle 39 — Interagency Commission on School Construction

### Chapter 02 — Administration of the Public School Construction Program

#### Regulation .28 Audits.

*COMAR 14.39.02.28*

A. The IAC or its designee may conduct financial audits and compliance audits of each LEA that receives State funds.

B. Audit items may include:

  (1) Transactions and balances reported on financial reports and close-out forms;

  (2) LEA internal controls and management authorizations;

  (3) Items ineligible for State participation; and

  (4) Compliance with 'IAC regulations and IAC policies and procedures.

C. The LEA shall reconcile audit exceptions and back charges to the IAC's or its designee's satisfaction.