N.H. Admin. Code § Pos 1303.01

Current through Register No. 50, December 12, 2024

Section Pos 1303.01 - Determination of State Match

(a) Each participating institution shall forward a copy of form GSS-100 to the commission indicating the following:

(1) The name of the participating institution;

(2) The address of the institution;

(3) The name of the institutional official responsible for the accounting of gifts or contributions under the granite state scholars program;

(4) A tabulation of all gifts and contributions to the endowment fund, including the size of each gift;

(5) Reporting period covered by the report;

(6) Date the report was prepared; and

(7) Signed statement certifying that:

a.All gifts and contributions listed on the report were received during the reporting period covered by the report; and

b.The report is true to the best of the signator's knowledge.

(b) Each form GSS-100 received by the commission on or before May 1 of each year shall be considered as being timely filed. When May 1 occurs on a Saturday or Sunday, the receipt date shall be the Monday immediately following May 1.

(c) Forms GSS-100 received after the May 1 deadline shall be considered late and shall not be considered for state matching funds.

(d) The May 1 receipt deadline shall not be appealable.

(e) Within 2 weeks of the receipt by the commission of PEC form GSS-100 reports from all participating institutions or by May 15, whichever is earlier, the commission shall determine the amount of state matching grants for each institution as follows:

(1) All gifts and contributions received during fiscal years 2002 and 2003 shall be matched 100 percent as specified by the superseding language in Laws 2001, 158:45, III.

(2) In fiscal year 2004 and subsequent fiscal years gifts and contributions shall be matched based on their individual size in the following manner:

a.Gifts and contributions that are greater than $1 but less than $100,000 shall be matched by a 50% state matching grant;

b.Gifts and contributions that are greater than $99,999 but less than $1,000,000 shall be matched by a 75% state matching grant; and

c.Gifts and contributions that are greater than $999,999 shall be matched by a 100% state matching grant.

(f) In the event that the total amount of state matching grants would exceed the appropriation the grants shall be calculated and disbursed by dividing the actual state matching funds appropriated by the amount of state funds necessary to meet full matching grant amounts.

(g) The commission shall notify institutions of the determination of the amount of state matching grants within 2 weeks.

N.H. Admin. Code § Pos 1303.01

#7721, eff 6-27-02