Current through Reg. 49, No. 38; September 20, 2024
(a)
Allocations for Fiscal Year 2017 and Later.
(1) The share of funds for each institution
eligible to make both initial and continuation awards will equal:
(A) the number of Initial Award TEXAS Grant
recipients at the institution in the Prior-Prior Year multiplied by the
percentage of Initial Award TEXAS Grant recipients in the year prior to the
Prior-Prior Year who received a Renewal Award in the Prior-Prior Year; plus the
number of Renewal Award TEXAS Grant recipients at the institution in the
Prior-Prior Year multiplied by the percentage of Renewal Award TEXAS Grant
recipients in the year prior to the Prior-Prior Year who received a Renewal
Award in the Prior-Prior Year, multiplied by the institution's average TEXAS
Grant award in the Prior-Prior Year, up to the amount of the Target Award for
the fiscal year for which allocations are occurring; plus
(B) the institution's proportions of the
remaining appropriation is based on the sum of the number of students who were
reported as a first time enrolling freshman; or an entering undergraduate
transfer student who completed an associate's degree within the prior 12 months
to enrolling; or an entering undergraduate transfer student who received an
Initial TEOG award for the Fall 2014 semester or later, has completed at least
24 semester credit hours, and has earned an overall GPA of at least 2.5 on a
four-point scale on all course work previously attempted, and:
(i) were enrolled as undergraduate students
and had not yet received a Bachelor's degree;
(ii) were identified as Texas
residents;
(iii) were enrolled at
least 3/4-time; and
(iv) had a
9-month Expected Family Contribution, calculated using federal methodology,
that was less than or equal to the cap established for TEXAS Grant in the
Prior-Prior Year.
(2) Institutions who are only eligible to
make continuation awards will not receive a specific allocation. Those schools
will have until August 1, or the first working day thereafter if it falls on a
weekend or holiday, to submit for reimbursement any award for a student who is
identified as eligible and is awarded a TEXAS Grant. Those awards will be
funded through any unencumbered program funds.
(3) The TEXAS Grant allocation spreadsheet
will be provided to the institutions for review and the institutions will be
given 10 working days, beginning the day of the notice's distribution and
excluding State holidays, to confirm that the spreadsheet accurately reflects
the data they submitted or to advise Board staff of any inaccuracies.
(b) Disbursement of Funds to
Institutions. As requested by institutions throughout the academic year, the
Board shall forward to each participating institution a portion of its
allocation of funds for timely disbursement to students. 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. 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. 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 Board for utilization in grant processing. Should these
unspent funds result in additional funding available for the next biennium's
program, revised allocations, calculated according to the allocation
methodology outlined in this rule, will be issued to participating institutions
during the fall semester.
(c)
Reductions in Funding.
(1) If annual funding
for the program is reduced after the start of a fiscal year, the Board may take
steps to help distribute the impact of reduced funding across all participating
institutions by an across-the-board percentage decrease in all institutions'
allocations.
(2) If annual funding
is reduced prior to the start of a fiscal year, the Board may recalculate the
allocations according to the allocation methodology outlined in this rule for
the affected fiscal year based on available dollars.
