Section 203 – Fund money — Institution allocations.

• (1)
  • (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:
    • (i) enrollment;
    • (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.
  • (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.

• (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.

Enacted by Chapter 482, 2019 General Session