802.1 - University of North Carolina at Chapel Hill Procedure on Requesting an Internal Loan

Procedure Statement

A school or department wishing to request an internal loan should follow the standard procedure set forth below.

Forms and Instructions

Approval Process

  1. The department chair or director prepares a written request sent through the applicable dean or vice chancellor. This request should:
    1. Identify the financing need;
    2. Identify the source of repayment;
    3. Identify a secondary source of repayment, if primary source of repayment is fundraising;
    4. Provide projections to establish ability to repay debt, if source of repayment is from operating cash flow and request exceeds $500,000; and
    5. Identify a preferred repayment plan.
  2. Requests should be submitted to the Vice Chancellor for Finance and Operations for approval by the Budget Committee.
  3. If approved, terms of the agreement will be put in writing by Treasury Services and reviewed by the Assistant Vice Chancellor for Finance and Accounting and then executed by the Vice Chancellor for Finance and Operations on behalf of the Budget Committee, the department chair or director, and the appropriate dean or vice chancellor.

Funds Advancement

To maintain budgetary constraints, funds will be advanced prior to the actual expenditure they will support. The first advancement will occur at the start of the loan period. Subsequent advancements will be quarterly (on, or in close proximity to, the beginning of periods starting 7/01, 10/01, 1/01, and 4/01), depending on departmental projections. Funds may be advanced in any amount so long as the aggregate does not exceed the total loan amount. If quarterly expenses exceed allotments, one additional request can be made prior to the next regularly scheduled advancement.

Advancement Process

Email or hard-copy requests for quarterly funds advancement should be made to the Investment Accountant in the Accounting Services department. Email requests should come from the dean or vice chancellor (or approved designee) at the department who authorized the loan. Hard-copy requests should be signed by the dean or vice chancellor (or approved designee) who authorized the loan. Both requests should include an overview of budgeted expenditures.

Related Data


Related Policies

  • Finance Policy 802 - University of North Carolina at Chapel Hill Policy on Internal Loans



  • January 18, 2018 - Replaced "Finance and Administration" with "Finance and Operations."
  • March 11, 2010
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Article ID: 131559
Thu 4/8/21 9:11 PM
Tue 3/12/24 2:44 PM
Responsible Unit
School, Department, or other organizational unit issuing this document.
Finance and Budget
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Treasury Services Director
Next Review
Date on which the next document review is due.
03/05/2019 12:00 AM
Last Review
Date on which the most recent document review was completed.
03/05/2018 12:00 AM
Last Revised
Date on which the most recent changes to this document were approved.
03/05/2018 12:00 AM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
03/05/2018 12:00 AM
Date on which the original version of this document was first made official.
03/13/2006 12:00 AM