§ 115D-58.6 – Investment of idle cash.
115D-58.6. Investment of idle cash. (a) Definitions. – As used in this section, the following definitions apply: (1) Cash balance. – The amount equal to all moneys received into institutional fund accounts minus all expenses and withdrawals from those accounts in an official depository of the institution as designated by the local board of trustees […]
§ 115D-58.7 – Selection of depository; deposits to be secured.
115D-58.7. Selection of depository; deposits to be secured. (a) Each board of trustees shall designate as the official depositories of the institution one or more banks, savings and loan associations or trust companies in this State. It shall be unlawful for any money belonging to an institution, other than moneys required to be deposited with […]
§ 115D-58.8 – Facsimile signatures.
115D-58.8. Facsimile signatures. The board of trustees may provide by appropriate resolution for the use of facsimile signature machines, signature stamps, or similar devices in signing checks and drafts. The board shall charge some bonded officer or employee with the custody of the necessary machines, stamps, plates, or other devices, and that person and the […]
§ 115D-58.9 – Daily deposits.
115D-58.9. Daily deposits. All moneys regardless of source or purpose collected or received by an officer, employee, or agent of an institution shall be deposited intact in accordance with this section. Each officer, employee and agent of an institution whose duty it is to collect or receive any moneys shall deposit his collections and receipts […]
§ 115D-58.10 – Surety bonds and related insurance.
115D-58.10. Surety bonds and related insurance. The State Board of Community Colleges shall determine what State employees and employees of institutions shall give bonds or be insured for the protection of State funds and property and the State Board is authorized to place the bonds, determine adequate insurance coverage, and pay the premiums thereon from […]
§ 115D-58.11 – Fire and casualty insurance on institutional buildings and contents.
115D-58.11. Fire and casualty insurance on institutional buildings and contents. (a) The board of trustees of each institution, in order to safeguard the investment in institutional buildings and their contents, shall: (1) Insure and keep insured each building owned by the institution to the extent of not less than eighty percent (80%) of the current […]
§ 115D-57 – Interim budget.
115D-57. Interim budget. In case the adoption of the budget resolution is delayed until after July 1, the board of trustees shall authorize the president, through interim provisions, to pay salaries and the other ordinary expenses of the institution for the interval between the beginning of the fiscal year and the adoption of the budget […]
§ 115D-58 – Amendments to the budget; budget transfers.
115D-58. Amendments to the budget; budget transfers. (a) The State Board of Community Colleges shall adopt rules and regulations governing the amendment of the budget for an institution. The board of trustees may amend the budget at any time after its adoption pursuant to the rules and regulations of the State Board. (b) If the […]
§ 115D-58.1 – Federal contracts and grants.
115D-58.1. Federal contracts and grants. The board of trustees of any institution may apply for and accept grants from the federal government or any agency thereof, in order to carry out the institution’s mission. In exercising this authority, the board of trustees may enter into and carry out contracts with the federal government or any […]
§ 115D-54 – Preparation and submission of institutional budget.
115D-54. Preparation and submission of institutional budget. (a) By a date determined by the State Board, trustees of each institution shall prepare for submission a budget request as provided in G.S. 115D-54(b) on forms provided by the State Board of Community Colleges. The budget shall be based on estimates of available funds if provided by […]