(1) All legislatively appropriated funds, tuitions, grant moneys, and donations designated for the Arkansas Heavy Equipment Operator Training Academy shall be specifically used for the operation of the academy.
(2) If the General Assembly does not provide funding for the academy, the University of Arkansas at Monticello may choose not to fund the academy.
(3) The Director of the Arkansas Heavy Equipment Operator Training Academy will develop, recommend, and monitor the academy's annual budget.
(4) The chief fiscal officer of the university or his or her designee shall regularly monitor academy books, banking records, accounts, and expenditures.
(5) The academy shall remain under the supervision of the director, who shall be assisted by the academy coordinator.