The Florida Senate

240.279  Working capital trust funds established.--

(1)  The Board of Regents, with the approval of the Administration Commission, is hereby authorized to establish in the State Treasury a working capital trust fund for each of the individual institutions in the university system for the purpose of providing central financing and cost controls for certain general services necessary to the operation of all departments of the respective universities, including the auxiliary enterprises.

(2)  All costs of work performed and services rendered in providing the said services shall be paid from the working capital trust fund. The departments and enterprises shall be billed periodically, at least once each month or as nearly so as is reasonably practical, for services rendered at actual cost, including reasonable overhead and depreciation charges, and payments by the departments and enterprises shall be deposited into the working capital trust fund to be available for financing other work and services as required.

History.--ss. 1-5, ch. 29800, 1955; s. 7, ch. 57-400; s. 1, ch. 59-254; s. 2, ch. 61-119; s. 18, ch. 65-130; s. 2, ch. 67-129; ss. 2, 3, ch. 67-371; ss. 31, 35, ch. 69-106; s. 114, ch. 79-190; s. 10, ch. 79-222.

Note.--Former s. 241.63.