Fund

There is hereby established a Physicians Fellowship Fund, hereinafter referred to as the AMTE Fellowship Fund from which fellowships and financial assistance granted pursuant to this chapter as well as the cost for administering the Programs shall be funded. The AMTE Fellowship Fund shall be kept separate and apart from any other fund and shall be administered by the AMTE Council, which is authorized to accept gifts, devises, bequests, donations, and all other kinds of contributions for the use of the AMTE Fellowship Fund. The AMTE Fellowship Fund shall be funded by annual appropriations by the Legislature to the extent made necessary by the financial assistance and fellowships granted pursuant to this chapter. The funds shall be administered by the AMTE Council and all monies appropriated for financial assistance and fellowships pursuant to this chapter and all repayment of such financial assistance and fellowships given under this chapter shall be paid directly to the AMTE Fellowship Fund. Within one hundred twenty

(120)days after the close of its fiscal year, the AMTE Council shall transmit to the Governor, the Speaker of the Legislature, and the President of the University an annual report of the COL 110609 CH. 47 PRE-MEDICAL PROGRAMS AND F ELLOWSHIPS expenditures of the AMTE Fellowship Fund, including, but not limited to, a balance sheet, a statement of receipts and expenses, a general description of the income sources and the expenses of the AMTE Fellowship Fund.