Amends GS 115D-31(e) to direct the State Board of Community Colleges (State Board) to transfer the amount of receipts for community college tuition and fees that exceeds the amount certified in General Fund Codes at the end of a fiscal year to the Enrollment Growth Reserve (was, transfer to the Equipment Reserve Fund). Provides that these funds do not revert to the General Fund and are to remain available to the State Board until spent. Permits the State Board to allocate the funds in the Enrollment Growth Reserve to colleges with an enrollment increase greater than 5% of budgeted enrollment levels.
Permits each community college to carry forward up to 2% of its final fiscal year General Fund appropriations into the next fiscal year. Prescribes how the funds may be used; prohibits using the funds for continuing salary increases or other obligations beyond the fiscal year into which they were carried forward. Provides that GS 115D-31.3(i) (Permissible use of funds) does not apply to these provisions.
Effective July 1, 2011.