Title: Federal Aid (Direct Student Loans)
103/285 PRF Continuing 20.285 (1) (ma) Yes
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:
Allowable Major Classes of Expense/Revenue:
Aid to individuals only.
Special Restrictions or Policies/Procedures:
- Position Control Policies
Not applicable since there are no salaries in this appropriation.
- Budget Control/Transfers/Overdrafts
See FAP - Budget Transfers (F5) for these limitations.
- 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.