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