(a) Institutions that have received and/or will receive an award under the program shall provide a separate program report for the each award year and expenditure year until it has expended its award and submitted a final report that shows the expenditure of all award funds.
(b) Any award funds remaining unspent at the end of four fiscal years after the fiscal year of the award must be returned to the Coordinating Board within sixty days.
(c) Any award advance funds that remain unearned by the date specified in the program announcement(s) shall be refunded to the Coordinating Board within five calendar days.
(d) The program report shall be in a format and with the specific content prescribed by the Commissioner.

Source Note: The provisions of this §22.507 adopted to be effective February 18, 2008, 33 TexReg 1326; amended to be effective November 18, 2008, 33 TexReg 9232; amended to be effective August 26, 2009, 34 TexReg 5689