19 Tex. Admin. Code § 22.135 - Disbursement of Funds
(a) As
requested by institutions throughout the academic year, the Coordinating Board
shall forward to each participating institution a portion of its allocation of
funds for timely disbursement to students.
(b) Institutions will have until the close of
business on August 1, or the first working day thereafter if it falls on a
weekend or holiday, to encumber program funds from their allocation for timely
disbursement to students. After that date, institutions lose claim to any funds
in the current fiscal year not yet drawn down from the Board for timely
disbursement to students.
(c) Funds
released in this manner in the first year of the biennium become available to
the institution for use in the second year of the biennium. Funds released in
this manner in the second year of the biennium become available to the
Coordinating Board for utilization in financial aid processing.
(d) Should these unspent funds result in
additional funding available for the next year's program, revised allocations,
calculated according to the allocation methodology outlined in this subchapter,
will be issued to participating institutions during the fall
semester.
Notes
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