Enhanced Authority Granted and Accompanying Accountability. Article 4 of the Act provides that, upon the execution of, and as of the effective date for, this management agreement, the University shall become a covered institution entitled to be granted by the Commonwealth and to exercise the powers and authority provided in Article 4 of the Act that are expressly contained in this management agreement. In general, subject to its management agreement with the Commonwealth, status as a covered institution governed by Article 4 of the Act and this management agreement is intended to replace (i) the post-General Assembly authorization prior-approval system of reviews, approvals, policies, and procedures carried out and implemented by a variety of central state agencies with (ii) a post-audit system of reviews and accountability under which a covered institution is fully responsible and fully accountable for managing itself pursuant to Article 4 of the Act and its management agreement with the Commonwealth.
Appears in 4 contracts
Samples: Management Agreement, Management Agreement, Management Agreement
