The Chancellor shall allocate the funds appropriated by the Legislature as soon as such funds are available, and in accordance with the project priorities established, provided that ten percent (10%) of the funds may be held for contingencies that may occur during the year. Any such funds initially held for contingencies shall be allocated prior to the end of the fiscal year.
Authority cited:
Education Code 66700
Education Code 70901
Education Code 84660
Reference:
Education Code 84660
(Amended by Register 95, No. 23).