Is it illegal to loan money out of a 128 account for funding capital improvements on campus, and for the 102 fund to pay interest on such a loan?
Our legislative budget is based on the separation between appropriations. Except where we have specific statutory authority, transfers between appropriations (and here I’m referring to loans and/or equity transfers, not routine cost distributions) have to be approved by the Legislature’s Joint Committee of Finance. We do have specific statutory authority to make transfers from 128 operations for the “one-time, fixed duration costs of any student related activity” subject to some very specific parameters established by statute and by policy 43 — http://www.uwsa.edu/fadmin/fppp/fp43at1.htm. These transfers have to be approved by the Board of Regents as part of the biennial budget process. It is the clear intent of the Board to establish a firewall around 128 — this was reaffirmed only a couple of months ago when we presented a paper of the “seamless management” of financial resources to the Board discussing the pros and cons of dismantling this wall. So unless you intend an outright tr
