May 23-24, 2002

 

ITEM 115-2008-R0502                Authorization to Transfer Certain General Operating Funds Exclusively for Future Scholarships and Stipends; Montana State University- Bozeman

 

THAT:                                       Montana State University-Bozeman is authorized to establish one or more "Scholarship and Stipend" account(s) within the Designated Subfund.  Transfers may be made into the account(s) from the General Operating Subfund when excess funds are made available through salary savings from grant funding.  The “Scholarship and Stipend” account(s) will be utilized exclusively for the regular transfer of funds to cover recorded costs of scholarship and stipend expenditures recorded in the General Operating Subfund. 

 

EXPLANATION:                        MSU-Bozeman departments, at times, realize salary savings by securing grant funding.  At the request and option of departments, these amounts will be transferred to account(s) within the Designated Subfund.

 

As scholarship and stipend expenses are incurred in general operations accounts, they will be paid out of the appropriate General Operating Subfund accounts. At fiscal year end, an amount of funds sufficient to cover scholarship and stipend costs will be transferred from the Designated Subfund, back to the general operations account(s).