Section Csp 702.01 - Allocations to Participating Institutions(a) The commission shall allocate funds to participating institutions based on the endowment distribution formula, which shall be recalculated each November and used to determine the institutional endowment allocations for the subsequent fiscal year. The initial allocations shall be made on the basis of November 2004 information, as defined in Csp 702.01(e) and shall apply to the fiscal year beginning July 1, 2005 for all institutions who have executed the endowment agreement by April 1, 2006;(b) The commission shall determine annually the total amount available for endowment allocations to participating institutions which shall be a percentage of gross proceeds from assessments collected pursuant to Csp 303.05. (c) The commission shall set a percentage to maximize the number of scholarships for New Hampshire students by applying the following factors; (1) Annual assessments collected; (2) Projected cost of operating the UNIQUE Annual Allocation Program and Governor's Scholarship Program as set forth in Csp 600 and Csp 400, respectively; and (3) The cumulative balance of the restricted endowments of institutions participating in the UEAP.(d) Institutional allocations shall be made on a monthly basis with the funds available from the previous month to be allocated no later than 15 days into the subsequent month; (e) The endowment distribution formula shall be based upon the total full-time equivalent (FTE) undergraduate enrollment of New Hampshire residents and a cost factor based upon the full-time undergraduate tuition and mandatory fees charged to New Hampshire residents; and (f) The endowment distribution formula shall be determined and applied in the following manner: (1) Enrollment numbers provided by each participating institution annually on or before November 1st, as required by Csp 701.04(g), and the tuition and fees submitted by the institution, as required by the U.S. Department of Education, on the Integrated Postsecondary Education Data System (IPEDS) institutional characteristics survey, 20 U.S.C. 1094, section 487(a) (17), shall be used in the distribution formula; (2) Total FTE undergraduate New Hampshire resident enrollment shall be calculated by adding the full-time undergraduate New Hampshire resident enrollment to the part-time FTE undergraduate New Hampshire resident enrollment. The part-time enrollment figure shall be multiplied by a factor used by the U.S. Department of Education's National Center for Educational Statistics (NCES), as defined by the glossary for the IPEDS surveys to compute the FTE for the part-time enrollment figure; (3) This cost factor shall be computed by adding the value of the institution's tuition for full-time undergraduate New Hampshire residents to the value of the mandatory fees charged to full-time undergraduate New Hampshire residents; (4) The cost ratio for each institution shall then be calculated by assigning a cost ratio value of 1.0 to the institution having the lowest cost factor and then dividing the cost factor at all other participating institutions by the cost factor of this institution to yield a value above 1.0 for all other institutions. Regardless of the computed cost ratio for a given institution, the cost ratio used in the distribution formula shall be capped at 3.0; (5) The participating institution's annual endowment distribution percentage shall be determined by dividing the product of the institution's total FTE undergraduate New Hampshire enrollment and its cost ratio by the sum of the products of all the participating institutions; and(6) Each participating institution's endowment allocation shall be equal to its annual endowment distribution percentage multiplied times the proceeds available for distribution.N.H. Admin. Code § Csp 702.01
Amended by Volume XXXVI Number 23, Filed June 9, 2016, Proposed by #11099, Effective 5/17/2016, Expires 5/17/2026.Amended by Volume XLII Number 2, Filed January 13, 2022, Proposed by #13302, Effective 12/10/2021, Expires 12/10/2031