(1) There is created in the state treasury the fifth- day academic enrichment and support grant program fund. The fund consists of money that the general assembly may appropriate or transfer to the fund. (2) The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. (3) The general assembly shall annually appropriate money from the fifth-day academic enrichment and support grant program fund to the department to implement the grant program. Subject to available appropriations, the department shall expend money from the fund for the award or renewal of grants pursuant to this article 105.The department may use up to five percent of the money annually appropriated for the program to pay the reasonable and necessary direct and indirect costs the department incurs to administer the grant program.
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