[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR691.83]

[Page 924-925]
 
                           TITLE 34--EDUCATION
 
 CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION
 
PART 691_ACADEMIC COMPETITIVENESS GRANT (ACG) AND NATIONAL SCIENCE AND 
 
               Subpart G_Administration of Grant Payments
 
Sec. 691.83  Submission of reports.

    (a)(1) An institution may receive either a payment from the 
Secretary for an award to an ACG or a National SMART Grant recipient, or 
a corresponding reduction in the amount of Federal funds received in 
advance for which it is accountable, if--
    (i) The institution submits to the Secretary the student's Payment 
Data for that award year in the manner and form prescribed in paragraph 
(a)(2) of this section by September 30 following the end of the award 
year in which the grant is made, or, if September 30 falls on a weekend, 
on the first weekday following September 30; and
    (ii) The Secretary accepts the student's Payment Data.
    (2) The Secretary accepts a student's Payment Data that is submitted 
in accordance with procedures established through publication in the 
Federal Register, and that contains information the Secretary considers 
to be accurate in light of other available information including that 
previously provided by the student and the institution.
    (3) An institution that does not comply with the requirements of 
this paragraph may receive a payment or reduction in accountability only 
as provided in paragraph (d) of this section.
    (b)(1) An institution shall report to the Secretary any change in 
the amount of a grant for which a student qualifies including any 
related Payment Data changes by submitting to the Secretary the 
student's Payment Data that discloses the basis and result of the change 
in award for each student. The institution shall submit the student's 
Payment Data reporting any

[[Page 925]]

change to the Secretary by the reporting deadlines published by the 
Secretary in the Federal Register.
    (2) An institution shall submit, in accordance with deadline dates 
established by the Secretary, through publication in the Federal 
Register, other reports and information the Secretary requires and shall 
comply with the procedures the Secretary finds necessary to ensure that 
the reports are correct.
    (3) An institution that timely submits, and has accepted by the 
Secretary, the Payment Data for a student in accordance with this 
section shall report a reduction in the amount of an award that the 
student received when it determines that an overpayment has occurred, 
unless that overpayment is one for which the institution is not liable 
under Sec. 691.79(a).
    (c) In accordance with 34 CFR 668.84, the Secretary may impose a 
fine on the institution if the institution fails to comply with the 
requirements specified in paragraphs (a) or (b) of this section.
    (d)(1) Notwithstanding paragraph (a) or (b) of this section, if an 
institution demonstrates to the satisfaction of the Secretary that the 
institution has provided ACGs or National SMART Grants in accordance 
with this part but has not received credit or payment for those grants, 
the institution may receive payment or a reduction in accountability for 
those grants in accordance with paragraphs (d)(4) and either (d)(2) or 
(d)(3) of this section.
    (2) The institution must demonstrate that it qualifies for a credit 
or payment by means of a finding contained in an audit report of an 
award year that was the first audit of that award year and timely 
submitted to the Secretary under 34 CFR 668.23(a).
    (3) An institution that timely submits the Payment Data for a 
student in accordance with paragraph (a) of this section but does not 
timely submit to the Secretary, or have accepted by the Secretary, the 
Payment Data necessary to document the full amount of the award to which 
the student is entitled, may receive a payment or reduction in 
accountability in the full amount of that award, if--
    (i) A program review demonstrates to the satisfaction of the 
Secretary that the student was eligible to receive an amount greater 
than that reported in the student's Payment Data timely submitted to, 
and accepted by the Secretary; and
    (ii) The institution seeks an adjustment to reflect an underpayment 
for that award that is at least $100.
    (4) In determining whether the institution qualifies for a payment 
or reduction in accountability, the Secretary takes into account any 
liabilities of the institution arising from that audit or program review 
or any other source. The Secretary collects those liabilities by offset 
in accordance with 34 CFR part 30.

(Authority: 20 U.S.C. 1070a-1, 1094, 1226a-1)