7.9 Scholarships

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Chapter 7: General Finance Provisions


Related MnSCU Board Policy: 7.3 Financial Administration
Related MnSCU Board Procedure: 7.3.12 Scholarships

Purpose:  To comply with MnSCU policy 7.3 and MnSCU procedure 7.3.12 with regards to the establishment of scholarship and grant awards utilizing auxiliary general fund resources.

Part 1: Authority
 

The chancellor delegates to the president of the college the authority to use auxiliary funds and general fund resources for scholarship and grant awards.

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Part 2: Consultation
 

The president must consult with students and campus student associations regarding the plan for use of auxiliary funds or general fund resources for scholarship and grant awards.

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Part 3: Plan for Use
 

The plan must include criteria to be used in selecting recipients and must require that all such scholarships and awards be processed through the financial aid office and recorded in the financial aid system.

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Part 4: Compliance
 

The college or university must establish and maintain written procedures governing the establishment of scholarships and grants using auxiliary and general fund resources, including the criteria to be used in awarding such scholarships or grants. Colleges and universities are responsible for ensuring that all scholarships and awards are appropriately recorded in the accounting system.

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  Policy History:
Date of Adoption:  Established prior to 2011
Date of Implementation:
Date and Subject of Revisions:
Next Review Date:  2015-16
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