Section 74-5028 - Same; grants; amounts; limitations; allocation; reports(a) Grants-in-aid under the provisions of this act shall only supplement funds from other sources available to the local organization and shall be determined according to the following formula: (1) For the first year in which the local organization submits an application, an amount equal to 75% of the certified budget for a community resource program or $6,000, whichever is the lesser amount;(2) for the second year, an amount equal to 50% of the certified budget or $4,000, whichever is the lesser amount; and(3) for the third year, an amount equal to 25% of the certified budget or $2,000, whichever is the lesser amount. After receiving grants-in-aid for three years, the eligibility of a local organization therefor shall terminate.(b) If the amount appropriated in any year for community resource programs shall be insufficient to pay the full amount of grants-in-aid approved by the assistant provost, then the amount appropriated shall be allocated on the basis of priorities established and assigned by the assistant provost.(c) Every local organization shall make such periodic and special reports of statistical and financial information to the assistant provost as may be requested.L. 1979, ch. 272, § 8; L. 1987, ch. 305, § 7; July 1.