S.C. Code Regs. § § 62-900

Current through Register Vol. 48, No. 11, November 22, 2024

Section 62-900 - Carry Forward of Matching Gift Funds

In the event that, in any given fiscal year, Gift Fund monies remain unallocated to either the research universities or to the technical and four-year colleges and universities after the distribution has been made in accord with the procedures described in section 62-860 above, these funds shall be carried forward to the next fiscal year and will form part of the Gift Fund total for that year. These carry forward funds will be combined with any new appropriations designated by the General Assembly so that the percentage calculations for the next fiscal year of 60 percent for the research universities and 40 percent for the other eligible colleges and universities will be made on the combined sum of the carried forward funds and the new appropriation.

S.C. Code Regs. § 62-900

Added by State Register Volume 22, Issue No. 6, Part 3, eff June 26, 1998; Amended by State Register Volume 23, Issue No. 5, eff May 28, 1999.

Statutory Authority: 1976 Code Section 59-150-370