Sec. 14.40.255. Investment of surplus money.
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Sec. 14.40.255. Investment of surplus money.
If the Board of Regents determines that there is a surplus of money, received in the form of state and federal appropriations, above the amount sufficient to meet current and projected cash expenditure needs of the university, the surplus must be invested as set out in AS 37.10.071 . Income earned on investments made under this section may be retained by the university and expended in accordance with AS 37.07 (Executive Budget Act.)