§ 115D-58.3. Provision for disbursement of State money. - North Carolina Statutes

§ 115D‑58.3. Provision for disbursement of State money.

The deposit of money in the State treasury to the credit of theinstitution shall be made in monthly installments, and additionally asnecessary, at such time and in such manner as may be convenient for theoperation of the community college system. Before an installment is credited,the institution shall certify to the Community Colleges System Office, theexpenditures to be made by the institution from the State Current Fund duringthe month.

The Community Colleges System Office shall determine whether the moneysrequisitioned are due the institution, and upon determining the amount due,shall cause the requisite amount to be credited to the institution. Uponreceiving notice from the Community Colleges System Office that the amount hasbeen placed to the credit of the institution, the institution may issue Statewarrants up to the amount so certified. Money in the State Current Fund andother moneys made available by the State Board of Community Colleges shall bereleased only on warrants drawn on the State Treasurer, signed by two officialsof the institution designated for this purpose by the board of trustees. (1963, c. 448, s. 23; 1965, c. 448, s. 2; 1979, c.462, s. 2; c. 896, s. 13; 1979, 2nd Sess., c. 1130, s. 1; 1981, c. 157, s. 1;1999‑84, s. 13.)