Each eligible institution's allowance of indirect match funds shall be determined by computing each participating institution's percentage of the total of all participating institutions' average Pell grant expenditures from the second, third, and fourth preceding school fiscal years and applying this percentage against any available indirect match funds.

Source: 8 SDR 14, effective August 18, 1981; 11 SDR 96, 11 SDR 112, effective July 1, 1985.

General Authority: SDCL 13-55A-11.

Law Implemented: SDCL 13-55A-11.