Montana Single Audit Report, Financial-Compliance Audit for the Two Fiscal Years Ended .. 1996

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Administrative operations and budgets are reviewed by the Govemor and the Legislature. The Fund is audited by the Legislative Auditor and their report is issued under separate cover.
Teachers' Retirement System (Pension Trust Fund Type) - This retirement system is a legally separate entity with a board appointed by the Governor. Its purpose is to provide retirement, disability, death and lump sum payments to members of Montana's public teaching profession. The administrative costs of the Teache
...rs' Retirement Division are paid from interest earnings of the fund. The system is funded from employer and employee contributions and interest earnings. The system is audited by the Legislative Auditor and their report is issued under separate cover.
Colleges. Universities, and Vocational-Technical Centers (Higher Education Funds) - The State Board of Regents has oversight responsibility for the University of Montana, Montana State University, College of Mineral Sciences and Technology, Eastern Montana College, Northern Montana College, Western Montana College of the University of Montana, and vocational- technical centers located in Billings, Butte, Great Falls, Helena and Missoula.


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