Arkansas Code of 1987 (2023) › Title 19 - PUBLIC FINANCE (§§ 19-1-201 — 19) › Chapter 5 - REVENUE STABILIZATION LAW (§§ 19-5-101 — 19-5-1286) › Subchapter 3 - GENERAL REVENUE OPERATING FUNDS AND FUND ACCOUNTS (§§ 19-5-301 — 19-5-312) › Section 19-5-303 - Institutions of higher education funds

(a)
University of Arkansas Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas Fund".
(2)
The University of Arkansas Fund shall be used for the maintenance, operation, and improvement of the University of Arkansas, including the University of Arkansas at Fayetteville, the Arkansas Cooperative Extension Service, the Arkansas Agricultural Experiment Station, the Graduate Institute of Technology, the Arkansas Archeological Survey, and for such other related and miscellaneous programs as may be provided by law.
(3)
The University of Arkansas Fund shall consist of:
(A)
Those general revenues that may be provided by law;
(B)
Those special revenues as set out in §
19-6-301(45)
, §
19-6-301
(229), and §
19-6-301
(232); and
(C)
Funds received from the Budget Stabilization Trust Fund as authorized by §
19-5-501
.
(b)
University of Arkansas Medical Center Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas Medical Center Fund".
(2)
The University of Arkansas Medical Center Fund is to be used for the maintenance, operation, and improvement of the University of Arkansas for Medical Sciences and its various divisions and programs, including the area health education centers and physician extender programs.
(3)
The University of Arkansas Medical Center Fund shall consist of:
(A)
Those general revenues as may be provided by law;
(B)
Those special revenues as set out in §
19-6-301
(224); and
(C)
Any other funds made available for the support of the University of Arkansas for Medical Sciences which are required to be deposited into the State Treasury.
(c)
University of Arkansas at Little Rock Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas at Little Rock Fund".
(2)
The University of Arkansas at Little Rock Fund shall be used for the maintenance, operation, and improvement of the Little Rock campus of the University of Arkansas and its various divisions and programs, including the Arkansas Economic Development Institute.
(3)
The University of Arkansas at Little Rock Fund shall consist of:
(A)
Those general revenues as may be provided by law;
(B)
Those special revenues as set out in §
19-6-301
(229); and
(C)
Any other funds made available for the support of the University of Arkansas at Little Rock which are required to be deposited into the State Treasury by law.
(d)
University of Arkansas at Monticello Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas at Monticello Fund".
(2)
The University of Arkansas at Monticello Fund shall be used for the maintenance, operation, and improvement of the Monticello campus of the University of Arkansas and its various divisions, the University of Arkansas at Monticello College of Technology-Crossett, and the University of Arkansas at Monticello College of Technology-McGehee.
(3)
The University of Arkansas at Monticello Fund shall consist of:
(A)
Those general revenues as may be provided by law;
(B)
The June 30, 2003, balances in the Forest Echoes Technical Institute Fund Account and the Great Rivers Comprehensive Lifelong Learning Center Fund Account; and
(C)
Any other funds made available for the support of the University of Arkansas at Monticello which are required to be deposited into the State Treasury by law.
(e)
University of Arkansas at Pine Bluff Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas at Pine Bluff Fund".
(2)
The University of Arkansas at Pine Bluff Fund shall be used for the maintenance, operation, and improvement of the Pine Bluff campus of the University of Arkansas.
(3)
The University of Arkansas at Pine Bluff Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the University of Arkansas at Pine Bluff and its various divisions, including the special teacher training program, which are required to be deposited into the State Treasury by law.
(f)
Arkansas State University Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas State University Fund".
(2)
The Arkansas State University Fund shall be used for the maintenance, operation, and improvement of Arkansas State University.
(3)
The Arkansas State University Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Arkansas State University which are required to be deposited into the State Treasury by law.
(g)
Arkansas State University - Beebe Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas State University - Beebe Fund".
(2)
The Arkansas State University - Beebe Fund shall be used for the maintenance, operation, and improvement of Arkansas State University-Beebe, including Arkansas State Technical Institute, Arkansas State University-Searcy, and Arkansas State University-Heber Springs.
(3)
The Arkansas State University - Beebe Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Arkansas State University-Beebe which are required to be deposited into the State Treasury by law.
(h)
Arkansas Tech University Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas Tech University Fund".
(2)
The Arkansas Tech University Fund shall be used for the maintenance, operation, and improvement of Arkansas Tech University.
(3)
The Arkansas Tech University Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Arkansas Tech University which are required to be deposited into the State Treasury by law.
(i)
Henderson State University Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Henderson State University Fund".
(2)
The Henderson State University Fund shall be used for the maintenance, operation, and improvement of Henderson State University, including the nursing program.
(3)
The Henderson State University Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Henderson State University which are required to be deposited into the State Treasury by law.
(j)
Southern Arkansas University Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Southern Arkansas University Fund".
(2)
The Southern Arkansas University Fund shall be used for the maintenance, operation, and improvement of Southern Arkansas University.
(3)
The Southern Arkansas University Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Southern Arkansas University and its programs which are required to be deposited into the State Treasury by law.
(k)
University of Central Arkansas Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Central Arkansas Fund".
(2)
The University of Central Arkansas Fund shall be used for the maintenance, operation, and improvement of the University of Central Arkansas.
(3)
The University of Central Arkansas Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the University of Central Arkansas which are required to be deposited into the State Treasury by law.
(l)
University of Arkansas at Fort Smith Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas at Fort Smith Fund".
(2)
The University of Arkansas at Fort Smith Fund shall be used for the maintenance, operation, and improvement of the University of Arkansas at Fort Smith.
(3)
The University of Arkansas at Fort Smith Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the University of Arkansas at Fort Smith which are required to be deposited into the State Treasury by law.
(m)
North Arkansas College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "North Arkansas College Fund".
(2)
The North Arkansas College Fund shall be used for the maintenance, operation, and improvement of North Arkansas College.
(3)
The North Arkansas College Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of North Arkansas College which are required to be deposited into the State Treasury by law.
(n)
East Arkansas Community College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "East Arkansas Community College Fund".
(2)
The East Arkansas Community College Fund shall be used for the maintenance, operation, and improvement of East Arkansas Community College.
(3)
The East Arkansas Community College Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of East Arkansas Community College which are required to be deposited into the State Treasury by law.
(o)
Arkansas Northeastern College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas Northeastern College Fund".
(2)
The Arkansas Northeastern College Fund shall be used for the maintenance, operation, and improvement of Arkansas Northeastern College.
(3)
The Arkansas Northeastern College Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Arkansas Northeastern College which are required to be deposited into the State Treasury by law.
(p)
Phillips Community College of the University of Arkansas Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Phillips Community College of the University of Arkansas Fund".
(2)
The Phillips Community College of the University of Arkansas Fund shall be used for the maintenance, operation, and improvement of Phillips Community College of the University of Arkansas, including the Stuttgart and DeWitt campuses.
(3)
The Phillips Community College of the University of Arkansas Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Phillips Community College of the University of Arkansas which are required to be deposited into the State Treasury by law.
(q)
University of Arkansas Community College at Rich Mountain Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas Community College at Rich Mountain Fund".
(2)
The University of Arkansas Community College at Rich Mountain Fund shall be used for the maintenance, operation, and improvement of the University of Arkansas Community College at Rich Mountain.
(3)
The University of Arkansas Community College at Rich Mountain Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the University of Arkansas Community College at Rich Mountain which are required to be deposited into the State Treasury by law.
(r)
Northwest Arkansas Community College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Northwest Arkansas Community College Fund".
(2)
The Northwest Arkansas Community College Fund shall be used for the maintenance, operation, and improvement of Northwest Arkansas Community College.
(3)
The Northwest Arkansas Community College Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Northwest Arkansas Community College which are required to be deposited into the State Treasury by law.
(s)
South Arkansas College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "South Arkansas College Fund".
(2)
The South Arkansas College Fund shall be used for the maintenance, operation, and improvement of South Arkansas College.
(3)
The South Arkansas College Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of South Arkansas College, which are required to be deposited into the State Treasury by law.
(t)
SAU-Tech Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "SAU-Tech Fund".
(2)
The SAU-Tech Fund shall be used for the maintenance, operation, and improvement of SAU-Tech, the Arkansas Fire Training Academy, and the Arkansas Environmental Training Academy.
(3)
The SAU-Tech Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of SAU-Tech and its programs which are required to be deposited into the State Treasury by law.
(u)
Arkansas State University Mid-South Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas State University Mid-South Fund".
(2)
The Arkansas State University Mid-South Fund shall be used for the maintenance, operation, and improvement of Arkansas State University Mid-South.
(3)
The Arkansas State University Mid-South Fund shall consist of:
(A)
Those general revenues as may be provided by law;
(B)
Those special revenues as set out in §
19-6-301
(183); and
(C)
Any other funds made available for the support of Arkansas State University Mid-South which are required to be deposited into the State Treasury by law.
(v)
University of Arkansas Community College at Hope-Texarkana Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas Community College at Hope-Texarkana Fund".
(2)
The University of Arkansas Community College at Hope-Texarkana Fund shall be used for the maintenance, operation, and improvement of the University of Arkansas Community College at Hope-Texarkana.
(3)
The University of Arkansas Community College at Hope-Texarkana Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the University of Arkansas Community College at Hope-Texarkana which are required to be deposited into the State Treasury by law.
(w)
University of Arkansas Community College at Batesville Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas Community College at Batesville Fund".
(2)
The University of Arkansas Community College at Batesville Fund shall be used for the maintenance, operation, and improvement of the University of Arkansas Community College at Batesville.
(3)
The University of Arkansas Community College at Batesville Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the University of Arkansas Community College at Batesville which are required to be deposited into the State Treasury by law.
(x)
[Repealed.]
(y)
Arkansas State University - Newport Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas State University - Newport Fund".
(2)
The Arkansas State University - Newport Fund shall be used for the maintenance, operation, and improvement of Arkansas State University - Newport.
(3)
The Arkansas State University - Newport Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Arkansas State University - Newport which are required to be deposited into the State Treasury by law.
(z)
[Repealed.]
(aa)
Cossatot Community College of the University of Arkansas Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Cossatot Community College of the University of Arkansas Fund".
(2)
The Cossatot Community College of the University of Arkansas Fund shall be used for the maintenance, operation, and improvement of Cossatot Community College of the University of Arkansas.
(3)
The Cossatot Community College of the University of Arkansas Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Cossatot Community College of the University of Arkansas which are required to be deposited into the State Treasury by law.
(bb)
University of Arkansas Community College at Morrilton Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "University of Arkansas Community College at Morrilton Fund".
(2)
The University of Arkansas Community College at Morrilton Fund shall be used for the maintenance, operation, and improvement of the University of Arkansas Community College at Morrilton.
(3)
The University of Arkansas Community College at Morrilton Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the University of Arkansas Community College at Morrilton which are required to be deposited into the State Treasury by law.
(cc)
Arkansas State University-Mountain Home Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas State University-Mountain Home Fund".
(2)
The Arkansas State University-Mountain Home Fund shall be used for the maintenance, operation, and improvement of Arkansas State University-Mountain Home.
(3)
The Arkansas State University-Mountain Home Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Arkansas State University-Mountain Home which are required to be deposited into the State Treasury by law.
(dd)
National Park College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "National Park College Fund".
(2)
The National Park College Fund shall be used for the maintenance, operation, and improvement of National Park College.
(3)
The National Park College Fund shall consist of:
(A)
Those general revenues transferred each month from the Garland County Community College Fund [repealed];
(B)
The June 30, 2003, balances in the Garland County Community College Fund [repealed]; and
(C)
Any other funds made available for the support of National Park College which are required to be deposited into the State Treasury by law.
(ee)
School for Math, Sciences, and Arts Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "School for Math, Sciences, and Arts Fund".
(2)
The School for Math, Sciences, and Arts Fund shall be used to provide for the maintenance, operation, and improvement required by the Arkansas School for Mathematics, Sciences, and the Arts in carrying out its powers, functions, and duties as set out by law.
(3)
The School for Math, Sciences, and Arts Fund shall consist of:
(A)
Moneys allocated and transferred from the Educational Excellence Trust Fund;
(B)
Any general revenues as may be provided under this chapter; and
(C)
Any other moneys as may be authorized by law.
(ff)
Ozarka College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Ozarka College Fund".
(2)
The Ozarka College Fund shall be used for the maintenance, operation, and improvement of Ozarka College.
(3)
The Ozarka College Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Ozarka College which are required to be deposited into the State Treasury by law.
(gg)
Southeast Arkansas College Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Southeast Arkansas College Fund".
(2)
The Southeast Arkansas College Fund shall be used for the maintenance, operation, and improvement of Southeast Arkansas College.
(3)
The Southeast Arkansas College Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of Southeast Arkansas College which are required to be deposited into the State Treasury by law.
(hh)
Arkansas State University Three Rivers Fund.
(1)
There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas State University Three Rivers Fund".
(2)
The Arkansas State University Three Rivers Fund shall be used for the maintenance, operation, and improvement of the Arkansas State University Three Rivers.
(3)
The Arkansas State University Three Rivers Fund shall consist of:
(A)
Those general revenues as may be provided by law; and
(B)
Any other funds made available for the support of the Arkansas State University Three Rivers which are required to be deposited into the State Treasury by law.
Amended by Act 2023, No. 124,§ 24, eff. 8/1/2023.
Amended by Act 2023, No. 888,§ 2, eff. 7/1/2023.
Amended by Act 2023, No. 853,§ 2, eff. 7/1/2023. Superseded by Act 2023, No. 888.
Amended by Act 2023, No. 245,§ 2, eff. 7/1/2023.v
Amended by Act 2019, No. 204,§ 3, eff. 7/1/2019.
Amended by Act 2017, No. 1127,§ 4, eff. 7/1/2017.
Amended by Act 2017, No. 1083,§ 4, eff. 7/1/2017.
Amended by Act 2017, No. 179,§ 9, eff. 7/1/2017.
Amended by Act 2016F, No. 141,§ 11, eff. 7/1/2016.
Amended by Act 2016F, No. 140,§ 11, eff. 7/1/2016.
Amended by Act 2013, No. 1131,§ 1, eff. 8/16/2013.
Acts 1973, No. 750, § 6; 1975, No. 868, §§ 8, 9; 1977, No. 955, §§ 12, 13; 1979, No. 1013, § 9; 1979, No. 1077, § 3; 1981, No. 938, § 7; 1983, No. 801, §§ 5-7, 10; 1985, No. 888, § 8; A.S.A. 1947, § 13-521; Acts 1989, No. 629, § 4; 1991, No. 335, §§ 1, 2; 1991, No. 1135, § 2; 1993, No. 447, § 8; 1993, No. 1073, §§ 2, 3; 1995, No. 1163, §§ 6-9; 1995, No. 1296, § 70; 1997, No. 1248, §§ 6, 7; 1999, No. 1463, §§ 3-6; 2001, No. 90, § 9; 2001, No. 292, § 12; 2001, No. 297, § 5; 2003, No. 1290, § 4; 2003 (1st Ex. Sess.), No. 55, §§ 2, 3, 27, 29, 31, 34; 2005, No. 2282, § 3; 2005, No. 2316, § 3; 2007, No. 1032, §§ 4-6; 2007, No. 1201, §§ 4-6; 2009, No. 1440, § 1; 2009, No. 1441, § 1; 2011, No. 1095, § 2; 2011, No. 1115, § 2; 2012, No. 271, § 1; 2012, No. 287, § 1.