§ 115D-54. Preparation and submission of institutional budget.
Article 4A.
Budgeting, Accounting,and Fiscal Management.
§ 115D‑54. Preparationand submission of institutional budget.
(a) By a datedetermined by the State Board, trustees of each institution shall prepare forsubmission a budget request as provided in G.S. 115D‑54(b) on formsprovided by the State Board of Community Colleges. The budget shall be based onestimates of available funds if provided by the funding authorities or asestimated by the institution. The State Current Fund shall be based on availablefunds. All other funds shall be based on needs as determined by the board oftrustees and shall include the following:
(1) State Current Fund.
(2) County Current Fund.
(3) Institutional Fund.
(4) Plant Fund.
(b) The budget shall beprepared and submitted for approval according to the following procedures:
(1) State Current FundBudget. The budget request shall contain the items of current operatingexpenses as provided in G.S. 115D‑31 for which State funds are requested.The approving authority for the State current fund budget request shall be theboard of trustees and the State Board of Community Colleges.
(2) County Current FundBudget. The budget request shall contain the items of current operatingexpenses, as provided in G.S. 115D‑32, for which county funds arerequested. The approving authority for the county current fund budget requestshall be the board of trustees and the local tax‑levying authority. TheState Board of Community Colleges shall have approving authority pursuant toG.S. 115D‑33 with respect to required local funding.
(3) Institutional FundBudget. The budget request shall contain the items of current operatingexpenses, loan funds, scholarship funds, auxiliary enterprises, State, private,and federal grants and contracts and endowment funds for which institutionalfunds are requested. The approving authority for the institutional fund budgetrequest shall be the board of trustees of the institution.
(4) Plant Fund Budget. The budget request shall contain the items of capital outlay, as provided inG.S. 115D‑31 and 115D‑32, for which funds are requested, fromwhatever source. The board of trustees shall submit the budget to the local tax‑levyingauthority. The local tax‑levying authority shall approve or disapprove,in whole or in part, that portion of the budget requesting local public funds.After approval by the local tax‑levying authority, the board of trusteesshall submit the budget to the State Board of Community Colleges on a datedesignated by the State Board. The State Board may approve or disapprove, inwhole or in part, that portion of the budget requesting State or federal funds.Plant funds provided for construction and major renovations shall be permanentappropriations until the conclusion of the project for which appropriated.
(c) No public fundsshall be provided an institution, either by the tax‑levying authority orby the State Board of Community Colleges, except in accordance with the budgetprovisions of this Article.
(d) The preparation ofa budget for and the payment of interest and principal on indebtedness incurredon behalf of an institution shall be the responsibility of the county financeofficer or county finance officers of the administrative areas, and the boardof trustees of the institution shall have no duty or responsibility in thisconnection.
(e) "Trust andAgency Fund" means funds held by an institution as custodian or fiscalagent for others such as student organizations, individual students, or facultymembers. Trust and agency funds need not be budgeted. (1963, c. 448, s. 23; 1979,c. 462, s. 2; c. 896, s. 13; 1979, 2nd Sess., c. 1130, s. 1; 1981, c. 157, s.1; 2001‑112, s. 1; 2007‑484, s. 29(c).)