A trust fund is an account established for deposit and disbursement of funds that are not controlled through the state budget process. General Statute 116-36.1 allows the university to establish accounts or trust funds outside state budget codes for certain categories of funds:
- Contracts, Grants and Agreements
- Sales and Service Enterprises
- Student Extracurricular Activities
- Fees for Services for Health Care Professionals
- Intercollegiate Athletics
- Agency Funds
The NC State Trust Fund Guidelines provide assistance for faculty and staff in understanding what trust funds are and how they are accounted for, regulated and applied.