Ala. Admin. Code r. 300-3-1-.03
Current through Register Vol. 43, No. 02, November 27, 2024
Section 300-3-1-.03 - Definition Of Terms(1) Authorized Universities: Any of the 14 universities authorized by said statute to which ACHE is to administer the Alabama Endowment Trust Fund for Eminent Scholars. The 14 universities are: (a) Alabama A & M University(b) Alabama State University(d) Auburn University at Montgomery(e) Jacksonville State University(f) Livingston University(g) Troy State University(h) Troy State University in Montgomery(i) The University of Alabama(j) The University of Alabama at Birmingham(k) The University of Alabama in Huntsville(l) University of Montevallo(m) University of North Alabama(n) University of South Alabama(2) Current Bank/Financial Statement: A current bank/financial statement is a monthly or quarterly statement issued by the bank or financial institution, which includes a summary of all the checks that have gone through the account in the previous month or quarter, a summary of debits (withdrawals) and credits (deposits) and a resulting balance.(3) Cut-Off Date: Two calendar weeks before the beginning of the fourth quarter is the cut-off date for authorized universities to have filed their requests for grants that will be awarded in the year's round-distribution schedule. (a) All requests for grants made after the 1989 cut-off date will form subsequent 1990 Session Schedules.(b) All 1989 Session Schedules that did not make the 1989 round-distribution schedule are carried over to the following year and will be filed accordingly so that every university has the opportunity to receive one grant before any university receives more than one.(4) Fiscal Year: The period of time between October 1 and September 30. The fiscal year will be divided into the following quarters:(a) First Quarter...... October-November-December(b) Second Quarter..... January-February-March(c) Third Quarter...... April-May-June(d) Fourth Quarter..... July-August-September(5) Grant: A $400,000 payment administered by ACHE and distributed to authorized universities.(6) Oualifying Documentation: Qualifying documentation includes a current bank/financial statement and a letter from the authorized university's president. The purpose of the current bank/financial statement is to prove that a balance of $600,000 exists in a designated Eminent Scholars Trust Fund account. The purpose of the letter from the authorized university's president is to verify that the sources of their contributions were solicited for the purpose of endowing an eminent scholar chair and received from private sources on behalf of the Eminent Scholars Program.(7) Round-Distribution Schedule: Round-distribution schedule is based on the following interpretation of the statute: every university is given the opportunity to receive at least one grant before another university receives more than one. (a) The total number of grants to be distributed can be calculated by dividing the total sum of funds available by $400,000. For example: If the Alabama legislature allocates $2,400,000 to the Alabama Endowment Trust Fund for Eminent Scholars, then 6 (six) grants would be available for distribution. ($2,400,000 divided by $400,000 equals 6)
(b) A round-distribution schedule is made up of one or more session schedules. For example: If $2,400,000 were available for ACHE to distribute and the following session schedules had been formed, then the following round-distribution schedule shown in bold lettering would be formed. Session Schedule II 1989 will carry over to the new fiscal year to give all authorized universities who have not requested funds an opportunity to receive grants before those who received grants (in bold) on Round-Distribution Schedule 1989 receive a second grant.
Round-Distribution Schedule 1989
Session Schedule I 1989
1. Auburn University; October 5, 1988; 3:00 p.m.2. Troy State University; October 10, 1988; 2:00 p.m.3. The University of Alabama; October 30, 1988; 1:00 p.m.4. Livingston University; January 15, 1989; 1:00 p.m. Session Schedule II 1989
1. The University of Alabama; October 30, 1988; 1:00 p.m.2. Auburn University; April 20, 1989; 9:00 a.m.3. Troy State University; May 12, 1989; 10:00 a.m. Session Schedule III 1989
1. The University of Alabama; October 30, 1988; 1:00 p.m.(8) Session Schedule: A list of authorized universities who have qualified by the statute's requirements to request a challenge grant from ACHE.(a) The list includes the qualified university name, date and time the request was received, and an assigned number to each request relating to the order in which each university will receive a grant in each session schedule.(b) The session schedules are headed with a numeral relating to the order in which it was formed and earliest year that grants could be awarded. All qualified requests for challenge grants received after the cut-off date are filed on session schedules that have the next year that grants should be awarded. For example: If a qualified request was received after the cut-off date in October 1988, then the request would be filed on a 1989 session schedule.
(c) A new session schedule is formed when a university requests more than one grant so that no university will appear twice on one schedule and thereby creating an equal opportunity for each university to receive a grant in each session. For example: If Auburn University applied for one grant on October 5, Troy State University applied for one grant on October 10 and The University of Alabama applied for three grants on October 30, then three session schedules would be formed as follows:
Session Schedule I 1989
1. Auburn University; October 5, 1988; 3:00 p.m.2. Troy State University; October 10, 1988; 2:00 p.m.3. The University of Alabama; October 30, 1988; 1:00 p.m. Session Schedule II 1989
1. The University of Alabama; October 30, 1988; 1:00 p.m. Session Schedule III 1989
1. The University of Alabama; October 30, 1988; 1:00 p.m. Author: Kay Ivey
Ala. Admin. Code r. 300-3-1-.03
Statutory Authority:Code of Ala. 1975, §§ 16-61-1, et seq.