HB416 Summary

• Appropriates $622,639 from the Education Trust Fund to Talladega College in Talladega, Alabama for fiscal year ending September 30, 2012.

• Appropriation is subject to the Budget and Financial Control Act and The Budget Management Act of 1976 under Code of Alabama 1975.

• Talladega College must submit an operations plan for fiscal year 2011-2012 and an audited financial statement for fiscal year 2009-2010 before funds are released.

• College is required to submit quarterly reports comparing actual to planned expenditures and accomplishments, plus an end-of-year performance report to the Director of Finance.

• Act becomes effective October 1, 2011.