Aids and Grants Class
- 76000 Aids and Grants
This major object includes the payments of financial aid monies to various authorized recipients. These payments can be in the form of contracts, grants, subsidies, state aid, or allocations.
- 76300 Aid to Governmental Units
This major object includes the payments of all types of financial aid to any governmental unit, such as countries, towns, school districts, and fire districts.
- 76400 Construction Grants
This major object includes the payments to non-state agencies for capital construction or acquisition of facilities to be used jointly for educational purposes by the agency and the institution, and legally owned by the non-state agency.
- 76500 Educational Awards
This major object includes the payments of monies for scholarships, fellowships, grants, grants-in-aid, traineeships, and other similar financial awards to the institution's students enrolled in formal course work, either for credit or non-credit. It excludes compensation for services rendered and monetary loans. The amounts paid to holders of assistantships, e.g., teaching assistants and research assistants, as compensation for services rendered is excluded from this classification, and is included in the appropriate object of expenditure account under 61000 Personnel Compensation.
- 76510 Appropriated Grants
This minor object includes the payments of student financial assistance to North Carolina residents on the basis of financial need and limited to the amount of tuition charged during the period for which the grant is provided. These grants originated in the approved budget effective July 1, 1961 coincident with a tuition rate increase, are supported exclusively by State appropriations, and have been variously referenced as "non-service scholarships", "scholarship grants" and "tuition scholarships. " These awards do not require repayment in services or cash.
- 76520 Minority Presence Grants
This minor object includes the payments of minority presence grants to full-time, North Carolina resident degree-seeking students who establish the existence of financial need and are of the minority race on the campus where enrolled. These awards do not require repayment in services or cash.
- 76530 Nursing Emergency Financial Aid
This minor object includes payments from the Emergency Financial Assistance Fund to students enrolled in University nursing programs who experience acute financial need which impacts the student's ability to continue the current nursing program schedule. The Fund was established in 1987 (General Assembly of North Carolina) Session Laws, Chapter 1049, Section 2, wherein a definition is provided of "acute financial need". Assistance from this program was authorized to commence at July 1, 1988, and is limited to $400 per academic year per student. Responsibility for program administration resides with an institution's Dean of Nursing, with assistance provided by the Director of Student Financial Aid. Payments of aid to students do not require repayment in services or cash.
- 76550 Teachers Scholarships
This minor object includes the gifts or awards of money to students participating in the training program for teachers who will teach retarded children in the North Carolina public school programs. The awards were originally authorized and the program established 1963 (North Carolina General Assembly) Session Laws, Chapter 845(b). The awards are based upon the recipient's scholarly merit and the chosen academic program of study. The award does not require repayment in services or cash.
- 76570 Traineeships
This minor object includes the gifts or awards of money to students enrolled in academic programs offered by the institution . The recipient of a traineeship is selected on the basis of scholarly merit and the chosen academic program of study. The specialized training received by the student and provided by the institution contributes to achieving educational goals of the institution, the student, and the funding source. A traineeship does not require repayment in services or cash.
- 76590 Other Educational Awards
This minor object includes financial awards to students other than those awards identified in minor objects 76510, 76520, 76550, and 76570. Also, it excludes Work-Study Transfers (see minor object number 78150), Loan Program Transfers (see 78160), Other Financial Aid Transfers (see 78170), compensation for services rendered, and monetary loans.
- 76900 Other Aids and Grants
This major object includes payments for contracts, grants, subsidies, state aid, and allocations which are not separately identified by major objects numbered 76300 through 76500. It includes legal or court-ordered indemnifications and financial settlements for injuries, losses, and damages (excluding tort claims which are identified in expenditure object 61540), and grants to faculty members for research purposes.
