IEA Expense Reports & Receipts

IEA account holders assume the responsibility of reporting spending of IEA funds to the department on a quarterly basis. This allows the department to ensure that IEA funds are spent on approved expenses and to account for the appropriate spending of public education funds.

IEA funds may only be used on specific allowable expenses, which are authorized by statute. The department is authorized to review all expenditures and request further information if needed from the IEA account holder.

The IEA Expense Report

On a quarterly basis, account holders must report all expenses paid using IEA funds to the department by submitting the IEA Expense Report and attaching all receipts. The department must receive and approve the complete expense report and all receipts before any additional IEA funding will be disbursed.

The deadlines for submitting the expense report and quarterly disbursement dates are listed on the "Key Dates" page.

The department may suspend or close an IEA and remove any account holder or student from participating in the IEA Program if the account holder fails to submit a complete expense report (including all receipts and supporting documentation) by the deadline. If the account is closed, any funds remaining in the account will be forfeited and returned to the state treasurer to be placed in the state's education funding account, the Basic Education Program (BEP) account.

For detailed instructions on submitting the IEA Expense Report, please read Chapter 10 of the IEA Parent Handbook.