Alaska Statutes 14.40.255 – Investment of surplus money
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 14.40.255
- board: means the state Board of Education and Early Development. See Alaska Statutes 14.60.010
- state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
If the Board of Regents determines that there is a surplus of money, received in the form of state and federal appropriations, above the amount sufficient to meet current and projected cash expenditure needs of the university, the surplus must be invested as set out in Alaska Stat. § 37.10.071. Income earned on investments made under this section may be retained by the university and expended in accordance with Alaska Stat. Chapter 37.07 (Executive Budget Act.)