North Carolina General Statutes 116-36.2. Regulation of special funds of individual institutions
(a) Notwithstanding Chapter 143C or any provisions of law other than Article 5A of Chapter 147 of the N.C. Gen. Stat., the chancellor of each institution is responsible for the custody and management of the special funds of that institution. The Board shall adopt uniform policies and procedures applicable to the administration of these funds which shall assure that the receipt and expenditure of such funds is properly authorized and that the funds are appropriately accounted for. The special funds of individual institutions regulated by this section are appropriated and may be used only as authorized by this section.
(b) As used in this section, “special funds of individual institutions” means:
(1) Moneys received from or for the operation by an institution of its program of intercollegiate athletics;
(2) Moneys held by an institution as fiscal agent for individual students, faculty, staff members, and organizations. (1977, 2nd Sess., c. 1136, s. 31; 1983, c. 913, s. 19; 2006-203, s. 46.)
Terms Used In North Carolina General Statutes 116-36.2
- Board: means the Board of Governors of the University of North Carolina. See North Carolina General Statutes 116-2
- Chancellor: means the chancellor of a constituent institution. See North Carolina General Statutes 116-2
- institution: means one of the 16 public institutions of higher education, to wit, the University of North Carolina at Chapel Hill, North Carolina State University at Raleigh, the University of North Carolina at Greensboro, the University of North Carolina at Charlotte, the University of North Carolina at Asheville, the University of North Carolina at Wilmington, Appalachian State University, East Carolina University, Elizabeth City State University, Fayetteville State University, North Carolina Agricultural and Technical State University, North Carolina Central University, North Carolina School of the Arts, redesignated effective August 1, 2008, as the "University of North Carolina School of the Arts" Pembroke State University, redesignated effective July 1, 1996, as the "University of North Carolina at Pembroke" Western Carolina University, and Winston-Salem State University, and the constituent high school, the North Carolina School of Science and Mathematics. See North Carolina General Statutes 116-2