[§302A-1402]  Custodian of federal funds. The director of finance is designated as custodian of all funds received as thestate apportionment under any federal appropriations for public educationalpurposes and the director shall disburse the funds, pursuant to therequirements, restrictions, and regulations of the federal acts under which thefunds may be provided, on vouchers approved by the board, or by any subordinatethereunto duly authorized by the board. [L 1996, c 89, pt of §2]