1. (a) An institution eligible to participate in the Alaska education grant program is described in AS 14.43.415(a)(2)(A), and must

   1. (1) repealed 2/22/2015;
   2. (2) repealed 10/3/2011;
   3. (3) be physically located in this state; and

   4. (4) enter into a program participation agreement with the commission, and provide the commission with documentation and information the commission considers necessary to determine whether the school is eligible to participate, including

      1. (A) documentation of participation in a method of electronic funds transfer approved by the commission;
      2. (B) documentation of compliance with state and federal statutes and regulations relevant to institutional financial, administrative, and academic capacity;
      3. (C) periodic reports to the commission as needed by commission staff to reconcile and analyze grant program data;
      4. (D) agreement to verify and certify student eligibility for grant awards; and
      5. (E) agreement to allow commission staff to audit school records related to grant money management and student eligibility determinations, as determined necessary by the commission.
2. (b) An institution that is otherwise eligible to participate in the Alaska education grant program becomes ineligible upon failure to submit required reconciliation reports or related documentation to the commission, or a commission audit finding that the institution is ineligible because the institution lacks the financial, administrative, or academic capacity to successfully administer the grant program.
3. (c) For purposes of this section, a commission audit finding that an institution lacks the financial, administrative, or academic capacity to appropriately administer the grant program includes a finding of institutional fraud, an inability to document the institution's procedures for grant funds management, or a consistent and sustained institutional failure to adhere to regulations and policies governing the grant program.

(Eff. 2/20/2005, Register 173; am 10/3/2011, Register 200; am 11/16/2012, Register 204; am 4/4/2013, Register 206; am 2/22/2015, Register 213)

Authority: AS 14.42.030, AS 14.43.405, AS 14.43.415