The UNC
Policy Manual
600.5.3[R]
Adopted 06/22/92
The
1991 General Assembly enacted N.C.G.S. § 20-81.12 to provide for collegiate
insignia registration plates. This act authorizes
the Division of Motor Vehicles to issue collegiate license plates for public
and private colleges and universities in the State. An extra registration fee of $25 is charged
for the special plates, of which $15 is credited to the Collegiate Plate
Fund. On a quarterly basis, the portion
of the Collegiate Plate Fund attributable to sales of plates representing the
public universities will be transferred to the Board of Governors of the
University of North Carolina.
The
revenue received as a result of this legislation will then be transferred to
each constituent institution in proportion to the number of collegiate plates
sold with respect to that institution.
The receipt of and expenditure of these funds should be recorded in a
separate trust fund account at each constituent institution. Records should be maintained in such a manner
that will provide the appropriate information required to report on the use of
these funds. These revenues must be used
for academic enhancement.
[This is a rewrite of
Administrative Memorandum #324.]