Ala. Admin. Code r. 300-3-1-.02 - Administrative Role
(1) By law, Act
No. 85-759, ACHE is required to administer the Alabama Endowment Trust Fund for
Eminent Scholars.
(2) Alabama
legislature allocates funds to ACHE for the Endowment Trust Fund for Eminent
Scholars.
(3) Authorized
universities requesting challenge grants must submit a current bank/financial
statement, which verifies that $600,000 exists in a designated Eminent Scholars
account and a letter from the authorized university's president, which verifies
that the sources of their contributions are solicited and received from private
donors on behalf of the Eminent Scholars program.
(4) ACHE is responsible for collecting and
verifying the qualifying documentation from authorized universities requesting
challenge grants, date and time stamping the documentation, assigning a number
relating to the order the university will receive a grant on a session
schedule, serving a public notice of current session schedules to authorized
universities before and after the cut-off date and distributing the grants when
funds are available.
(5) ACHE will
only award grants in increments of $400,000. The number of grants available in
one year can be calculated by dividing the total sum of funds available by
$400,000. Added grants may become available as interest income accumulates
and/or additional funds are allocated by Legislature.
Author: Kay Ivey
Notes
Statutory Authority: Code of Ala. 1975, ยงยง 16-61-1, et seq.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.