1. (a) On the first working day of each fiscal year or as soon as possible thereafter, the State Board shall cause to be paid to each district 80% of the amount allocated to that district for the fiscal year.

2. (b) Additional payments including the 20% not paid at the beginning of the fiscal year and any adjustments made possible by other funding sources or unused allocations from other districts may be paid to a district at such time as requested by the district, provided;

   1. (1) the initial 80% payment has been substantially expended, and
   2. (2) the district has complied with the reporting requirements of §521.11 and §521.12 of this chapter.
   3. (3) grant allocations are made contingent upon districts filing quarterly expenditure reports and an annual grant expenditure summary report.
3. (c) any unexpended and unobligated balance on the district books at August 31 will be treated as a payment toward that district's allocation for the subsequent fiscal year.

Source Note:The provisions of this §521.10 adopted to be effective May 8, 2000, 25 TexReg 4188.