Financial Administration

Appropriation 149

Title:  Federal Aid (Direct Student Loans)

State Fund/Agency
Number		 Budget
Category		 Appropriation
Type		 Statute
Reference		 Cash Balance
Carryover
103/285 PRF Continuing 20.285 (1) (ma) Yes

Statute Language:

All moneys received from the federal government for student loans, work study and educational opportunity grants and other grants to be administered and expended in accordance with the provisions of the federal grant or program to carry out the purposes for which made and received.

Institutions Which Have Budget Authority for This Appropriation:

All institutions

Allowable Major Classes of Expense/Revenue:

Aid to individuals only.

Special Restrictions or Policies/Procedures:

  1. Position Control Policies
    Not applicable since there are no salaries in this appropriation.
  2. Budget Control/Transfers/Overdrafts
    See FAP - Budget Transfers (F5) for these limitations.
  3. Activity Code Limitations
    Use activity 9 only. See Activity Codes and Definitions for descriptions.

Year-End Instructions (lapse, carry forward, etc.):

The current year budget balance must be lapsed back to the state at the end of the year, while the cash balance moves forward to the new year. The new year budget is increased by encumbrances carried forward to the new year. Refunds of prior year expenditures are deposited to this appropriation using the code of the original transaction.

Special Instructions on Salaries/Fringe Benefits:

Not applicable since there are no salaries paid.

Policy Paper References:

FAP - Extramural Support Services(G2)