{"data":{"id":"us-ut/utah-code-53f-6-405.5","jurisdiction":"us-ut","citation":"Utah Code § 53F-6-405.5","heading":"Financial administrator duties and requirements.","body":"(1) The financial administrator shall:\n(a) operate independently in processing and distributing scholarship funds while:\n(i) following program requirements the program manager establishes;\n(ii) implementing payment directives from the program manager regarding:\n(A) scholarship student eligibility;\n(B) qualifying provider status;\n(C) payment timing; and\n(D) other established program requirements;\n(iii) maintaining separate systems and controls from program administration; and\n(iv) providing necessary reporting while preserving operational independence;\n(b) implement and maintain a payment processing system that:\n(i) provides an online portal for scholarship account access;\n(ii) facilitates electronic payments to qualifying providers;\n(iii) enables pre-approval of parent reimbursements for eligible expenses;\n(iv) includes provider rating and review capabilities;\n(v) processes payments efficiently;\n(vi) prevents unauthorized access;\n(vii) provides real-time reporting to the program manager; and\n(viii) maintains backup systems and disaster recovery capabilities;\n(c) process payments only:\n(i) to qualifying providers approved by the program manager;\n(ii) for scholarship expenses determined eligible by the program manager, including the reimbursement for the scholarship expense to parents; and\n(iii) when directed by the program manager;\n(d) maintain security measures that:\n(i) prevent unauthorized access to scholarship funds;\n(ii) comply with industry standards for data privacy; and\n(iii) ensure compliance with federal education privacy laws; and\n(e) process scholarship payments according to the distribution schedule described in Section 53F-6-411, including:\n(i) tracking initial and second-half payments;\n(ii) managing early disbursement authorizations; and\n(iii) reconciling payment records with the Utah Fits All Scholarship Restricted Account balance.\n(2) For financial accountability, the financial administrator shall:\n(a) maintain detailed records of:\n(i) all scholarship account transactions to the service or item level;\n(ii) payment processing activities; and\n(iii) reimbursements and refunds;\n(b) provide monthly reports to the program manager including:\n(i) scholarship account balances and activity;\n(ii) payment processing status and issues;\n(iii) provider payment summaries; and\n(iv) reimbursement tracking; and\n(c) submit annual financial reports including:\n(i) total scholarship funds disbursed;\n(ii) account reconciliation statements; and\n(iii) audit results and responses.\n(3) The financial administrator shall:\n(a) implement payment suspensions or cancellations as directed by the program manager;\n(b) process reimbursements from providers as required;\n(c) credit returned funds to appropriate scholarship accounts; and\n(d) maintain records of all suspended or canceled payments.\n(4) The financial administrator:\n(a) may not:\n(i) approve or deny scholarship expenses;\n(ii) determine provider eligibility;\n(iii) establish program policies; and\n(iv) charge processing fees to an eligible student or pass on third-party fees related to the use or management of scholarship funds; and\n(b) shall:\n(i) follow all program manager directives regarding fund disbursement;\n(ii) maintain separation between policy decisions and payment processing; and\n(iii) implement internal controls to prevent unauthorized payments.\n(5) The financial administrator shall:\n(a) cooperate with all program audits;\n(b) provide requested financial records;\n(c) respond to audit findings as directed; and\n(d) implement corrective actions as required by the program manager.","path":["Title 53F Public Education System -- Funding","Chapter 53F-6 State Funding -- Programs Administered by Other Agencies","Part 53F-6-4 Utah Fits All Scholarship Program"],"source_url":"https://le.utah.gov/xcode/Title53F/Chapter6/53F-6-S405.5.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"7dea7f8fa2448d43af00e2a791eb423673c2c8c78e0b554c723fe2e0eed7a8ca","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-53f-6-405","next":"us-ut/utah-code-53f-6-406"},"notice":"GroundRules: Original legal text. Not legal advice."}