Skip to main content
Philanthropy Journal Home

Philanthropy Journal News

Nonprofit oversight eyed

 | 

State lawmakers are moving to strengthen regulatory oversight of North Carolina nonprofits that receive state money, The Charlotte Observer reported June 2.

Data prepared by the legislative fiscal staff found that, in the fiscal year ended June 30, 2001, nonprofits received $767 million in state money, or nearly 5 percent of the state’s General Fund budget, the Observer said.

A special Senate committee looked at nonprofits, the money they receive and state oversight of them, and opted not to target the money, the Observer said.

Nonprofits, which already are required to file annual financial audits with the State Auditor’s Office if they receive more than $300,000, would have to file within 90 days of the close of the fiscal year in which the money was received, according to provisions in the Senate budget plan.

And state agencies would have to verify that they had received the documents before making their final fourth-quarter payments.

Leave a Response

Your email address will not be published. All fields are required.