Section 53F-6-411 - Program funding(1) If a scholarship student enters or reenters the public education system during a given school year: (a) no later than five business days after the day on which the student enters or reenters the public education system, the program manager shall immediately remove the balance in the scholarship student's scholarship account for other use within the program;(b) the state board may not distribute any remaining state funds to the program manager for the student; and(c) the program manager may use the balance described in Subsection (1)(a) for another scholarship student.(2) At the end of a school year, a program manager shall withdraw any remaining scholarship funds in a scholarship account and retain the scholarship funds for disbursement in the following year.(3)(a) To administer the program, the program manager may use up to the lesser of 5% or $2,500,000 of the funds the Legislature appropriates for the program.(b) Subject to Subsection (3)(a), the funds for program administration described in Subsection (3)(a) are nonlapsing.(c) The program manager may not retain administrative cost balances in excess of 25% of total administrative costs in any fiscal year.Added by Chapter 1, 2023 General Session ,§ 13, eff. 5/3/2023.