Policies & Procedures


Section: ###
Part: ###
Statement No.: ###
Date: 05/31/09
University of North Carolina - General Administration
Administrative Policies and Procedures Manual
Title: Agency Trust Funds
 

FRS Account Number Range 5-15500 - 5-15599

This category includes funds held by the agency as fiscal agent for student, faculty, and staff organizations where it has been deemed in the best interests of the agency to provide an accounting service.  These funds do not belong to the agency and the agency does not determine what they can be spent for except as follows:

  • UNC GA requires a formal approval process to ensure, to the extent possible, that funds in these projects are not misused.
  • The funds should not be spent for any purpose which would be detrimental to the image of the agency.

The agency does not require the custodian of an agency fund to utilize agency travel and/or purchasing regulations or guidelines for expenditures of funds except that adequate documentation is required to ensure that an authorized person is initiating an expenditure request.