The Coordinating Board shall perform the following services with regard to the Program:
  (1) Accept funds transferred to the Coordinating Board by institutions for use in matching federal or state grant funds, assure such matching funds are used to assist institutions and students with the greatest financial need, and return any funds on deposit from institutions if matching funds are not available.
  (2) Monitor institutional use of program funds and accept funds transferred to the Coordinating Board by institutions which fail to fully utilize the grant funds set aside in accordance with Program requirements. If an institution's year-end Program balance, including funds on deposit with the Coordinating Board, exceeds 150 percent of the amount set aside from tuition, the excess funds shall be sent to the Coordinating Board which shall use the funds for the Toward EXcellence, Access and Success Grant Program.

Source Note: The provisions of this §22.64 adopted to be effective August 27, 2018, 43 TexReg 5508; amended to be effective May 16, 2024, 49 TexReg 3275