Sec. 51.009. DEFINING AND ACCOUNTING FOR CERTAIN INCOME. (a) "Local funds" are the items to be accounted for as "educational and general funds" as described in Subsection (c) of this section, but do not include general revenue funds. These funds shall be accounted for in a manner recommended by the National Association of College and University Business Officers and approved by the comptroller of public accounts and the Texas Higher Education Coordinating Board. (b) "Institutional funds" means all funds collected at the institution that are not "educational and general funds" as described in Subsection (c) of this section. These funds shall be accounted for in a manner recommended by the National Association of College and University Business Officers and approved by the comptroller of public accounts and the Texas Higher Education Coordinating Board. (c) Each of the following shall be accounted for as educational and general funds: (1) net tuition, special course fees charged under Sections 54.051 (e) and (l), lab fees, student teaching fees, organized activity fees, and proceeds from the sale of educational and general equipment; and (2) hospital and clinic fees received by a state-owned clinical care facility that is operated using general revenue fund appropriations for patient care.
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