Ill. Admin. Code tit. 23, § 1039.70 - Distribution Formula
a) The
distribution of grants shall be determined by a formula which has two
components: a base grant and an FTE grant. [30 ILCS
769/25-10 ] To ensure an equitable and fair
distribution of funds, the credit hours are reported by the institution and
verified by an external auditor.
b)
Base Grants
1) Each grantee will receive a
base grant determined by its fall 2008 FTE, using the following ranges:
A) Between 1 and 200 FTE, $200,000;
B) Between 201 and 500 FTE,
$1,000,000;
C) Between 501 and
4,000 FTE, $2,000,000; and
D)
Greater than 4,000 FTE, $5,000,000.
2) If for any reason the amount of funds
available for release is not sufficient to distribute the base grant amounts,
the Board shall distribute prorated shares to grantees along with an
explanation.
c) FTE
Grants. After the distribution of the base grants, the remainder of moneys will
be distributed on a pro rata share of fall 2008 FTE to the independent colleges
as FTE grants.
d) Failure to Use.
If any independent college does not utilize its full award or a portion thereof
after 5 years, the remaining funds shall be re-distributed to the remaining
independent colleges with capital projects as FTE grants on a pro rata basis.
[30 ILCS 769/25-10 ]
Notes
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