Iowa Code r. 877-17.4 - Program funding
(1)
Program funds consist of any moneys allocated by the authority and the board
for the purpose of this program, all repayments of loans or other awards or
recaptures of awards, and earned interest, including interest earned on program
funds held by the community colleges.
(2) A community college 260F account is
established in the authority. The allocation of funds in this account, to the
community colleges, shall be determined using the distribution formula
established in Iowa Code section
260C.18C.
(3) Any unexpended or uncommitted funds
remaining in the community college 260F account on May 1 of the fiscal year
shall revert to a general account to be available on a first-come, first-served
basis, based on the date an application is received by the authority.
Notes
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