(a) Eligible educational institutions shall operate and manage the program in accordance with the criteria and procedures established by the state board and shall submit an annual report thereon to the state board.
(b) Eligible educational institutions may use moneys appropriated for the program (1) to pay the state share of the salaries and wages of eligible students participating in the career component of the program, (2) to provide financial assistance for eligible students who participate in the YES component of the program, and (3) subject to provisions in acts making appropriations for the program, to meet expenses which are directly attributable to development or enhancement of the program and to the operation and management thereof.