Section R628-24-7 - Approval by the Council(1) The Council must approve the FDI.(2) Before approval by the Council, the higher education institution must present to the Council the reasoning and purpose for the use of an FDI.(3) Upon review of such reasoning and purpose, the Council will decide whether to give final approval to allow funds to be deposited in the FDI.(4) The Council may approve an FDI that does not otherwise fall within the requirement of Section R628-24-5. when other facts make it reasonably prudent to do so.(5) In approving an FDI, the Council may place restrictions on the use of the FDI when the Council determines it would be reasonably prudent to do so. It is the responsibility of the higher education institution to monitor any restriction placed on the FDI and if violated, to notify the Council of the issue within 30 days of the violation and provide a plan of action in regard to the violation.Utah Admin. Code R628-24-7
Adopted by Utah State Bulletin Number 2024-13, effective 6/21/2024