Utah Admin. Code R628-20-7 - Approval by the Council

Current through Bulletin No. 2021-18, September 15, 2021

(1) The Council must approve the FDI.
(2) Prior to approval by the Council, the higher education institution must present to the Council the reasoning and purpose for the use of a FDI.
(3) Upon review of such reasoning and purpose, the Council will decide whether to give final approval to allow funds to be deposited in the FDI.
(4) The Council may approve an FDI that does not otherwise fall within the requirement of R628-20-5. when other facts make it reasonably prudent to do so.
(5) In approving an FDI, the Council may place restrictions on the use of the FDI when the Council determines it would be reasonably prudent to do so.
(a) It is the responsibility of the higher education institution to monitor any restriction placed on the FDI and if violated, to notify the Council of the issue within 30 days of the violation and provide a plan of action in regards to the violation.

Notes

Utah Admin. Code R628-20-7

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