Utah Admin. Code R628-24-7 - Approval by the Council
(1) The Council
must approve the FDI.
(2) Before
approval by the Council, the higher education institution must present to the
Council the reasoning and purpose for the use of an 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 Section R628-24-5. 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. 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 regard to the violation.
Notes
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