; or (ii) a deposit of opportunity scholarship funds, in accordance with section 3007(a)(2) of the Scholarships for Opportunity and Results Act (D.C. Code, sec. 38–1853.07(a)(2)). (B) The funds in the account shall be distributed by the administering entity on behalf of the eligible child to one or more participating providers, upon direction by the parent, at the appropriate time. (C) Except as provided in subparagraph (D), any amount in the account that is attributable to a deposit provided under paragraph (2)(A) or a deposit of any opportunity scholarship funds awarded under section 3007 of the Scholarships for Opportunity and Results Act (D.C. Code, sec. 38–1853.07) may be paid or distributed out of the account only for the purpose of paying education expenses described in subsection (c) for the eligible child. (D) Any balance remaining in the account shall be returned to the Chief Financial Officer on the last day of the period covered by an agreement described in paragraph (2)(B) if— (i) such agreement is broken or ended by the parent during the agreement period; (ii) the parent of the eligible child does not renew the agreement for the eligible child for the immediately succeeding academic year; (iii) during the most recent year of the agreement, the parents do not use any funds in the account for eligible expenses described in subsection (c); or (iv) the child no longer qualifies as an eligible child. (4) Amount of scholarship and transfer of funds (A) Transfer of funds By not later than August 1 of each school year— (i) the administering entity shall notify the Chief Financial Officer of the total amount calculated under subparagraph (B) to be provided under this Act for scholarships to eligible children for such school year