Reference is to Printer's Date 3/8/12-H.
Amend the bill, as and if amended, by deleting Section 12-6-1146(L) and inserting:
/(L)(1) Every nonprofit scholarship funding organization
providing grants under this section shall:
(a)
cause an outside auditing firm each year to conduct a
comprehensive financial audit of its operations in conformity
with generally accepted accounting principles and shall furnish
same within thirty days of its completion and acceptance to the
Secretary of State and Department of Revenue, which must be made
available by them on their website for public review;
(b)
create and publish on its web site by-laws for the
organization;
(c)
require all employees to undergo a background
investigation by both a state and national criminal history
background investigation as a part of the required
investigation. Any person required to undergo a background
investigation may be required to supply fingerprints, along with
other personal identifying information, for submission to the
Federal Bureau of Investigation (FBI) through the State Law
enforcement Division (SLED). The organization is authorized to
use SLED and FBI criminal history records for screening of
persons considered for employment. The organization may incur
the cost of the screening or may require the applicant to pay
for the screening;
(d)
issue a unique student identification number, provided by
the South Carolina Department of Education, to each student
receiving a scholarship which must be furnished by the student
and used for enrollment purposes by the eligible school when
enrolling a student;
(e)
provide annually to the Education Oversight Committee a
list of students, using the unique student identification
number, awarded scholarships, the amount received, and the
schools they attend;
(f)
be subject to the South Carolina Freedom of Information
Act found at Section 30-4-10 et seq;
(g)
develop and maintain a current web site which shall
include a transaction register that includes a complete record
of all funds expended over one hundred dollars, from whatever
source, for whatever purpose. The register must be prominently
posted on the internet website and made available for public
viewing and downloading. The register must include for each
expenditure:
(i)
the transaction amount;
(ii)
the name of the payee; and
(iii)
a statement providing a detailed description of the
expenditure .
The register must not include an entry for
salary, wages, or other compensation paid to individual
employees. The register must not include any information that
can be used to identify an individual employee. The register
must be accompanied by a complete explanation of any codes or
acronyms used to identify a payee or an expenditure. The
register must be searchable and updated at least once a
month.
The scholarship granting organization must
also maintain on its internet website a copy of each monthly
statement for all of the credit cards maintained by the entity,
including credit cards issued to its officers or employees for
official use. The credit card number on each statement must be
redacted prior to posting on the internet website. Each credit
card statement must be posted not later than the thirtieth day
after the first date that any portion of the balance due as
shown on the statement is paid. Additionally the web site shall
provide a listing of its donors.
(2)
At the conclusion of the third year of granting
scholarships and every three years thereafter, the Legislative
Audit Council shall conduct a management performance audit of
those scholarship funding organizations approved to operate in
the State. Upon conclusion of the audit, the report shall be
issued to the members of the General Assembly and the Education
Oversight Committee which shall post on a prominent location on
it.
(3)
Every independent school accepting grants for eligible
students under this section shall cause to be conducted a
compliance audit by an outside entity or auditing firm examining
its compliance with the provisions of this section and shall
furnish the same within thirty days of its completion and
acceptance to the Secretary of State and Department of Revenue
which must be made available by them on their website for public
review. /
Renumber sections to conform.
Amend title to conform.