Financial Reporting Act
The Chancellor will be required to issue a monthly report listing all income and expenditures made by the executive branch, including contributions received by the CDS and RA allocated funds. The report must indicate the individual who contributed or received funds, and the exact amount received or spent, or, if this is not possible, a realistic estimate of the value of services or contributions in kind. The report should include the total tier received, but need not list it by individual.
Contributions include any funds given or gifts in kind to the CDS, the Chancellor, or any member of the executive staff made in connection with any event, activity, or project sponsored or run by the executive branch. Expenditures include any payment for a good or service spent in connection with a any event, activity, or project sponsored or run by the executive branch.
The Chancellor must remove any staff member found to have violated this statute.