Section 1038.60  Use of Grant Funds

a)         State Matching Grant Program grant funds may be used only for:

1)         All or part of the institution's required matching contribution during the expenditure period for eligible supported research projects for which the institution receives formal notification of the awarding of sponsor research funds during the award eligibility period.

2)         Audit of grant funds.

b)         The Board will distribute grant funds to institutions based on:

1)         The institution's allocation of grant funds as determined in Section 1038.40, one-half of which will be distributed to grant recipients at the time of allocation.

2)         Not later than May 1 of the grant year, each institution receiving a grant shall submit to the Board a request for the distribution of the remaining grant funds that includes a listing of all eligible supported research projects for which the institution received award notification during the award eligibility period.

            For each supported project, the following information shall be submitted:

A)        project title;

B)        copy of official award notification letter from the project sponsors; and

C)        a description of institution matching requirements and contributions to be expended during the expenditure period.

c)         Any single supported research project shall not be eligible for more than ten percent of the grant funds appropriated by the State for the grant period.

(Source:  Amended at 24 Ill. Reg. 3364, effective February 14, 2000)