The Florida Senate

¹240.272  Carryforward of unexpended funds.--Notwithstanding the provisions of s. 216.301 to the contrary, the Executive Office of the Governor shall, on July 1 of each year, certify forward all unexpended funds appropriated or provided pursuant to s. 240.209 or s. 240.271 for the State University System. Any unexpended funds in the current year operating budget, including unexpended student fee revenues, shall be carried forward by the Board of Regents for use by the university to which the funds were allocated. Of the unexpended funds certified forward, any unencumbered amounts may be transferred to university carryforward accounts on September 1 of each year. Any certified forward funds remaining undisbursed on December 31 of each year shall be transferred to university carryforward accounts.

(1)  Such carryforward shall not exceed 5 percent of the total operating budget of the university. Funds carried forward pursuant to this section shall be expended for building an escrow account for major equipment purchases; for scientific, technical, or other equipment; for matching challenge grant programs; for library resources; for minor repairs, renovations, or maintenance; for major studies or planning processes; for maintaining access to course offerings in the event of a revenue shortfall; or for expanding access to course offerings, as approved by the Board of Regents.

(2)  No university shall be penalized in the allocation of subsequent funds as a result of the carryforward of an unexpended balance.

History.--ss. 7, 12, ch. 85-241; s. 12, ch. 90-365; s. 16, ch. 91-55; s. 8, ch. 93-242; s. 27, ch. 94-230; s. 3(7), ch. 2000-321.

¹Note.--Repealed January 7, 2003, by s. 3(7), ch. 2000-321, and shall be reviewed by the Legislature prior to that date.