Printable Format71-604. State aid; proration of insufficient appropriation; overpayments; underpayments. (a) If the amount of any appropriation for state aid is insufficient to pay in full the amount each community college is otherwise eligible to receive, the amount appropriated shall be prorated among all community colleges in proportion to the amount each is eligible to receive.
(b) If any community college is paid more than the amount it is eligible to receive, the state board shall notify the community college of the amount of the overpayment and the community college shall remit the same to the state board and the state board shall deposit the same in the state treasury to the credit of the general fund, and if any such community college fails to remit, the state board shall deduct the excess amount so paid from future payments becoming due to such community college.
(c) If any community college is paid less than the amount it is eligible to receive, the state board shall pay the additional amount due at any time within the fiscal year in which the underpayment was made or within 60 days after the end of such fiscal year.
History: L. 1961, ch. 363, § 5; L. 1963, ch. 390, § 5; L. 1965, ch. 417, § 21; L. 1968, ch. 211, § 16; L. 1972, ch. 265, § 2; L. 1973, ch. 274, § 8; L. 1978, ch. 278, § 4; L. 1978, ch. 280, § 2; L. 1979, ch. 216, § 1; L. 1979, ch. 217, § 2; L. 1980, ch. 207, § 31; L. 1986, ch. 259, § 2; L. 1999, ch. 147, § 42; L. 2011, ch. 97, § 15; July 1.