The amount shared will be the net income after expenditures are deducted from gross income. Gross income and expenditures will be those figures from the official audit. This net income will be shared as outlined above, provided that the entire University Board is without deficit for the year. The program has the option of adding the money to its existing budget or depositing it in the Revenue Sharing Agency Account for future use. If at any time in the future an amount is withdrawn from the agency account by a program board, an adjustment will be made in the appropriate line item of the existing budget.
All expenditures are subject to the same guidelines as all other budgeted money.