- (a) Allocations. The Board, with the assistance of the Advisory Committee, shall develop a formula for allocating funds to participating institutions in a way to best fulfill the goals of the program. At a minimum, the total number of accounting degrees issued and the number of African-American and Hispanic students who receive accounting degrees at each participating institution shall be considered in determining the allocation formula.
- (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; amended to be effective August 21, 2005, 30 TexReg 4650.