NORTH CAROLINA STATE UNIVERSITY STUDENT SENATE

89^TH SESSION, 2009-2010

 

Finance Bill 05

 

A BILL TO BE ENTITLED AN ACT TO ENCUMBER

FUNDS FROM SURPLUS FUNDS

 

 

Short Title: Surplus Disbursement Act

Sponsors: TREASURER Thomas Lamm

Signatories:

Referred to: Committee on Finance 

Version: As initially introduced

First Reading: 08/26/2009                                                                 Second Reading: 09/9/09

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WHEREAS, some surplus funds were not correctly disbursed during the 87^th Session; and,

 

WHEREAS,  surplus funds from the 88^th Session must be disbursed in accordance to statute in the amount of $29,148.00; and,

 

WHEREAS, required by statute 25% of any surplus must be encumbered to the Appropriations process; and, 

 

WHEREAS, these funds are non-recurring and should not be used in a manner where the association would have to commit funding during future sessions; let it be,

 

RESOLVED, that the following changes be made to the 2009-2010 budget as enacted:

 

                        Line 1302 – Fall Disbursement - $68,670.00 – Increased by $3654.00

                        Line 1303 – Spring Disbursement - $65,150.00 – Increased by $3650.00

                        Line 1103 – Finance Committee Disbursements - $9,000.00 – Increased by $6,500.00

                        Line 801 – Office Supplies and Maintenance - $7,000.00 – Increased by $1,500.00

                        Line 803 – Transportation - $3,000.00 – Increased by $1,000.00

 

                        $12,844.00 is to remain in unencumbered funds for later disbursement

 

This act shall be effective upon its enrollment.