Chapter 7 - General Finance Provisions
for Board Policy 7.3
Part 1. Authority.
Board Policy 7.1, Finance and Administrative Authority of the Board, Chancellor and Presidents, delegates to the chancellor authority to develop procedures and guidelines to implement this policy.
Other scholarship programs may be established pursuant to this procedure.
Part 2. Delegation to Presidents
The chancellor delegates to the presidents of the colleges or universities authority to use auxiliary funds and general fund resources for scholarship and grant awards.
The president must consult with students regarding the plan for use of auxiliary funds or general fund resources for scholarships and grants. The president must consult with campus student associations regarding the plan for use of General Fund resources for scholarship or other grant awards. The plan must include criteria to be used in selecting recipients and require that all such scholarships and awards must be processed through the financial aid office and recorded in the financial aid system.
The college or university must establish and maintain written procedures governing the establishment of scholarships and grants using auxiliary and general fund resources, including the criteria to be used in awarding such scholarships or grants.
Part 3. Compliance
Minn. Stat. Section 135A.30, Minnesota Academic Excellence Scholarship, provides for an academic excellence scholarship program and includes information on the eligibility requirements, selection of recipients, amount of scholarship, renewals, number of awards, distribution among campuses, and additional contributions.
Colleges and universities are responsible for ensuring that all scholarships are appropriately recorded in the accounting system. Scholarships must comply with National Collegiate Athletic Association regulations for athletes.
- Policy 7.3 Financial Administration
- Procedure 7.3.1 Accounting and Payroll
- Procedure 7.3.2 Auxiliary Operations
- Guideline 18.104.22.168 Auxiliary Fund Accrual Financial Statements and Multi-year Financial Planning
- Procedure 7.3.3 Purchasing Cards
- Procedure 7.3.4 Cost Allocation
- Guideline 22.214.171.124 Cost Allocation and Implementation
- Procedure 7.3.5 Revenue Fund Management
- Procedure 7.3.6 Capital Assets
- Guideline 126.96.36.199 Capital Leases Involving Tax-Exempt Interest
- Procedure 7.3.7 Impairment of Capital Assets
- Procedure 7.3.13 Surplus Personal Property/Building Disposal
- Procedure 7.3.16 Finance Exception Reporting
- Procedure 7.3.17 Electronic Payments
- Guidelines for 188.8.131.52 Guideline for Payment Card Acceptance, Processing and Security
- Board Policy 7.1 - Finance and Administrative Authority of the Board, Chancellor and Presidents
- M.S. Chapter 135A.30, Minnesota Academic Excellence Scholarship
Date of Adoption: 1/18/02,
Date of Implementation: 1/18/02,
Date and Subject of Revisions:
There is no additional HISTORY for 7.3.12 at this time.