The Florida Senate

240.281  Deposit of funds received by institutions and agencies in the State University System.--All funds received by any institution or agency in the State University System, from whatever source received and for whatever purpose, shall be deposited in the State Treasury subject to disbursement in such manner and for such purposes as the Legislature may by law provide. The following funds shall be exempt from the provisions of this section and, with the approval of the Board of Regents, may be deposited outside the State Treasury:

(1)  Student deposits.

(2)  Scholarship funds from private sources.

(3)  Student loan funds.

(4)  Contractor's bid deposits.

(5)  Vending machine collections.

(6)  Alumni association funds.

(7)  Funds received from private sources as gifts, grants, bequests, or donations.

(8)  Funds received by a faculty practice plan as provided by rule of the Board of Regents; however, the University of Florida and the University of South Florida shall prepare operating budgets at the same level of detail as that required of the education and general and Board of Regents budget entities for these funds.

(9)  Such other funds as may be approved by the Board of Regents and the Executive Office of the Governor subject to the review provisions of s. 216.177.

History.--s. 2, ch. 63-204; s. 1, ch. 67-129; ss. 2, 3, ch. 67-371; ss. 31, 35, ch. 69-106; s. 3, ch. 74-312; s. 112, ch. 79-190; s. 12, ch. 79-222; s. 1, ch. 91-257; s. 14, ch. 98-65.

Note.--Former s. 240.095.