53B-22-203. Fund money — Institution allocations.
| (1) |
Terms Used In Utah Code 53B-22-203
| (a) |
Based on appropriations to the fund, the board shall annually determine how to allocate among all institutions money that has not been previously allocated to an institution. |
| (b) |
The board shall make the determination described in Subsection (1)(a) based on each institution’s:
| (ii) |
total performance across the metrics described in Section 53B-7-706; |
| (iii) |
projected growth in student population; |
| (iv) |
existing square feet per student full-time equivalent; |
| (v) |
facility age and condition; and |
| (vi) |
utilization of academic space, including off-campus facilities. |
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| (c) |
On or before August 1, 2019, the board shall establish how the board will determine the amount of money to allocate to an institution, including, for each factor described in Subsection (1)(b):
| (i) |
how the board will measure an institution’s fulfillment of the factor; and |
| (ii) |
the relative weight assigned to the factor. |
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| (2) |
On or before May 31 each year, the board shall notify the Division of Finance of the board’s determination described in Subsection (1). |
| (3) |
The Division of Finance shall:
| (a) |
maintain within the fund separate accounting for each institution’s allocation; and |
| (b) |
based on the notification described in Subsection (2), add to each institution’s allocation the amount of money determined by the board. |
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Enacted by Chapter 482, 2019 General Session
