Disbursal of financial aid -- Additional resources.
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(1) The board shall allocate the money available under the program to each Utah postsecondary institution in the same proportion as the amount of Pell Grant money received by the institution for resident undergraduate students during the most recently completed fiscal year that Pell Grants were given bears to the total Pell Grant money received by all Utah postsecondary institutions for resident undergraduate students during that same year.
(2) The board may accept grants, gifts, bequests, and devises of real and personal property from any source for the purpose of granting student financial aid in addition to that funded by the state.