1. (a) Projections. The Coordinating Board shall produce FAST funding projections for the upcoming fiscal year through the following process described in this subsection.

   1. (1) Returning Institutions. For an institution that participated in the Program during the prior fiscal year, the institution's projected FAST funding shall be calculated for each semester of the upcoming fiscal year by multiplying:

      1. (A) The number of FAST semester credit hours or equivalents reported by the institution to the Coordinating Board via CBM reports for the most recent summer, fall, and spring semesters (with "flex" terms being grouped with the following semester; e.g., spring-flex is included in the summer semester) for which data are available; and
      2. (B) The FAST tuition rate for the upcoming fiscal year, as determined under §13.504 of this subchapter (relating to FAST Tuition Rate).

   2. (2) New Institutions. For an institution that did not participate in the Program during the prior fiscal year, the institution's projected FAST funding shall be calculated for each semester of the upcoming fiscal year by multiplying:

      1. (A) The number of dual credit semester credit hours or equivalents reported by the institution to the Coordinating Board via CBM reports for the most recent summer, fall, and spring semesters (inclusive of "flex" terms) for which data are available;
      2. (B) The statewide average percentage of dual credit semester credit hours that are FAST eligible for the same period; and
      3. (C) The FAST tuition rate for the upcoming fiscal year, as determined under §13.504 of this subchapter.
   3. (3) Verification. The Coordinating Board will share projections for the upcoming fiscal year with each participating institution for comment and verification not later than the final day of June preceding the fiscal year for which the projections were assembled. The institution will be given ten business days, beginning the day of the notice's distribution, and excluding State holidays, to confirm that the calculation accurately reflects the data they submitted or to advise the Coordinating Board of any inaccuracies.

2. (b) Disbursements. The Coordinating Board will make up to three disbursements per fiscal year to each participating institution based on the projections assembled under subsection (a) of this section.

   1. (1) Fall Disbursement. Not later than October 15 of each fiscal year, the Coordinating Board shall disburse to each participating institution an amount equal to the institution's projected FAST funding calculated for the fall semester under either subsection (a)(1) or (a)(2) of this section.
   2. (2) Spring Disbursement. Not later than March 15 of each fiscal year, the Coordinating Board shall disburse to each participating institution an amount equal to the institution's projected FAST funding calculated for the spring semester under either subsection (a)(1) or (a)(2) of this section.
   3. (3) Summer Disbursement. Not later than June 15 of each fiscal year, the Coordinating Board shall disburse to each participating institution an amount equal to the institution's projected FAST funding calculated for the summer semester under either subsection (a)(1) or (a)(2) of this section.

3. (c) True-Up. Upon receipt of attendance data and educationally disadvantaged status data, including for students described by §13.503(a)(3)(A) of this subchapter (relating to Eligible Students), for the full school year from the Texas Education Agency, the Coordinating Board will conduct a true-up adjustment of the prior fiscal year's FAST disbursements in accordance with this subsection.

   1. (1) The Coordinating Board shall calculate, using its own CBM reports and the Texas Education Agency data, the number of semester credit hours or equivalents each participating institution provided to FAST-eligible students during the prior fiscal year.

   2. (2) True-up Adjustment. An institution's True-up Adjustment, which may be a positive or negative amount, is:

      1. (A) the amount calculated in paragraph (1) of this subsection multiplied by the FAST tuition rate for the prior fiscal year; minus
      2. (B) the total of all FAST disbursements made to the institution during the prior fiscal year.
   3. (3) Adjustment. Upon completion of the True-up process, the Coordinating Board will increase or decrease, as applicable, the amount of each institution's subsequent disbursement described by subsection (b) of this section, in an amount equal to the True-up Adjustment.
   4. (4) Verification. The Coordinating Board will share its calculation of the true-up adjustment with the participating institution for comment and verification prior to its subsequent disbursement. The institution will be given ten business days, beginning the day of the notice's distribution, and excluding State holidays, to confirm that the calculation accurately reflects the data they submitted or to advise the Coordinating Board of any inaccuracies.
4. (d) If an institution fails to provide data or information necessary for the administration of the Program by the Coordinating Board's publicized dates, then the Coordinating Board may postpone the publication of the institution's projection under subsection (a) of this section or the disbursement of the funds to the institution under subsection (b) of this section.

Source Note:The provisions of this §13.505 adopted to be effective February 15, 2024, 49 TexReg 674; amended to be effective May 13, 2026, 51 TexReg 3105.