SECTION 521.10. Payment of State Funds

(a) On the first working day of each fiscal year or as soon as possible thereafter, the State Board shall cause to be paid to each district 25% of the amount allocated to that district for the fiscal year.

(b) Additional payments shall be made on a reimbursement basis.

(1) each district receiving funds under provisions of this chapter shall file with the state Board a monthly report of expenditures no later than the 30th of the month following the end of each reporting period on forms provided by the State Board.

(2) upon verification that the reports are in order, the State Board shall cause payment for reimbursement of expenses to be made to the district.

(3) upon receipt of the last monthly report, the State Board shall perform a reconciliation of funds and pay the claim accordingly.

(4) the district has complied with the reporting requirements of §521.11 and §521.12 of this chapter.

(c) any unexpended and unobligated balance on the district books at August 31 will be treated as a payment toward that district's allocation for the subsequent fiscal year.

Source Note: The provisions of this §521.10 adopted to be effective May 8, 2000, 25 TexReg 4188; amended to be effective March 17, 2004, 29 TexReg 2652