- (a) Allocations. One third of the funds allocated to participating institutions shall be allocated by the Board in proportion to each institution's number of students graduating with degrees in accounting in the previous year. Two thirds of the funds will be allocated based on the number of students reported to have significant amounts of financial need via each institution's prior year Financial Aid Database Report.
- (b) Reallocations. Unless otherwise indicated, institutions will have until a date specified by the Board via a policy memo addressed to the Program Officer at the institution to encumber all funds allocated to them. On that date, institutions lose claim to any unencumbered funds and the unencumbered funds are available to the Board for reallocation to other institutions. If necessary for ensuring the full use of funds, subsequent reallocations may be scheduled until all funds are awarded and disbursed.
Source Note:The provisions of this §22.166 adopted to be effective August 16, 2004, 29 TexReg 7987.