13.0109 Medical Center accounts–Establishment.

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The Medical Center shall establish Medical Center financial accounts. The use of the accounts shall be restricted to transactions authorized by the Medical Center and no funds deposited into the Medical Center accounts may be withdrawn for any other purpose. All revenues generated by the Medical Center, third party payments, federal medicaid funds, medicare reimbursements, grants specifically allocated to the Medical Center and its purposes, tax revenues specifically earmarked by law for Medical Center purposes, donations, gifts, and funds appropriated by the Legislature for the Medical Center, shall be deposited into the Medical Center accounts. One twelfth of the amount annually appropriated by the Legislature for the Medical Center shall be deposited into the Medical Center accounts no later than the fifth of each month. The Medical Center shall use its accounts to pay all of its debts and liabilities, including payroll and operating expenses.

History: 1998, PL 25-20.