6.36 Use of Fund Balances - Updated 7/11/16

See version history

I. Rules

Fund balances will be used according to the North Carolina Community College System Accounting Procedures Manual and the State Board of Community Colleges Code. For self-supporting classes, the College will maintain an average markup not to exceed 25 percent.

II. Guidelines

A. Bookstore

The disposition of Bookstore fund balances will be processed according to the guidelines in Article IV of the North Carolina Community College System Accounting Procedures Manual.

B. Self-Supporting Classes

The disposition of fund balances from self-supporting classes will be processed according to the guidelines in paragraphs (b) (c) of IE SBCCC 600.4 of the State Board of Community Colleges Code. The Board of Trustees will regulate the amount of mark-up for self-supporting classes for the College in accordance with the SBCCC.

C. Vending Fees

The disposition of fund balances will be processed according to the guidelines in Article I of the North Carolina Community College System Accounting Procedures Manual.

D. Student Fees

Student fees include, but are not limited to, student activity fees, computer use and technology fees, parking fees, lab fees, and forensic fees.

The Board of Trustees may establish specific student fees subject to any State Board maximums. Student activity fees, computer use and technology fees, and parking fees must be set and reported annually by the Board of Trustees to the State Board of Community Colleges.

The disposition of fund balances from student fees will be processed according to the guidelines in 1E SBCCC 700.1 through 700.7 of the State Board of Community Colleges Code.

E. Overhead Receipts

1. Restricted and Unrestricted--The disposition of fund balances from overhead receipts will be processed according to the guidelines in Article XIV established by the North Carolina Community College System Accounting Procedures Manual.

2. Self-Supporting and Contract Training--The disposition of fund balances from overhead receipts which are over and above the costs of administering the programs may be used for instruction, student support services, administrative services, student financial aid (e.g. scholarships, grants, loans, Work Study), student refunds, student activities, curriculum development, program improvement, professional development, capital improvements, and acquisition of real property.

Changes approved by the Board of Trustees on September 7, 2011
Changes approved by Cabinet on February 6, 2012; July 11, 2016