2058

Any entity designated pursuant to § 2057 of this title shall submit to the Secretary of the Treasury a monthly report in which the amount received from each agency and the amount remitted to each charitable institution must be stated in detail, as well as the date of such remittance. The designated entity shall remit to each charitable institution its corresponding funds within thirty (30) days following their date of receipt.\nIt shall, likewise, file an annual report of all funds received and delivered to the charitable institutions no later than fifteen (15) days following the close of each fiscal year. The Council shall establish by regulations the manner in which each report must be prepared, as well as what shall be stated or informed therein. As soon as the Council approves the annual report that is required in this section, the designated entity shall publish it in at least one newspaper of general circulation in order to notify all public employees of the distribution of the donations they have made, according to the norms that the Council may establish by regulations.\nThe designated entity shall conduct an annual audit of its accounts with independent auditors, a copy

donations they have made, according to the norms that the Council may establish by regulations.\nThe designated entity shall conduct an annual audit of its accounts with independent auditors, a copy of which shall be remitted to the Regulations Council within fifteen (15) days following the date it is received.\nHistory —Aug. 11, 1988, No. 168, § 9, eff. July 1, 1989.