Section 15-206 - Federal grants for educational purposes; administrationA. The state board of education may accept on behalf of this state from any federal agency monies which have been appropriated by act of Congress for defense in education, reduction of illiteracy, teaching of immigrants, employment and training, educational support services or other educational purpose.B. The state board of education shall not reserve funds for state use in excess of actual cost not to exceed ten per cent of the grants to this state for provision to school district governing boards under the elementary and secondary education act of 1965, as amended (20 United States Code sections 2911 through 2952 and 2971 through 2976).C. The state board of education, following regular educational fiscal procedure for counties, shall be the chief educational authority for administration and supervision of the expenditure of federal appropriations described in subsection A, and the state treasurer shall be trustee thereof.