6.36 Use of Fund Balances Policy

See version history

I. Policy

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. Rules

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. The Board of Trustees will periodically review the mark-up on textbooks and the use of bookstore profits and will ensure that student costs are held to a minimum.

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 and shall review this policy at least once every three years. All expenditures from these fund balances must be consistent with the mission and purpose of the community college system.

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. The Board of Trustees must annually approve student activity budgets submitted by the Student Government Association.

E. Overhead Receipts (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.

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