20 U.S.C. § 57 : US Code - Section 57: Disbursements

Search 20 U.S.C. § 57 : US Code - Section 57: Disbursements

Whenever money is required for the payment of the debts or
performance of the contracts of the institution, incurred or
entered into in conformity with the provisions of sections 41 to
46, 48, 50, 51 to 53, 54 to 57, and 67 of this title, or for making
the purchases and executing the objects authorized by said
sections, the Board of Regents, or the executive committee thereof,
may certify to the chancellor and secretary of the board that such
sum of money is required, whereupon they shall examine the same,
and, if they shall approve thereof, shall certify the same to the
proper officer of the Treasury for payment. The board shall submit
to Congress, at each session thereof, a report of the operations,
expenditures, and condition of the institution.