(1) There is hereby created in the state treasury the board of governors of the Colorado state university system fund which is under the control of and administered by the board of governors of the Colorado state university system in accordance with the provisions of this article. The board of governors has authority and responsibility for all moneys of the board of governors and any entity governed by it. The board of governors shall designate, pursuant to its constitutional and statutory authority, those moneys received or acquired by the board of governors of the Colorado state university system or any of the entities it governs, whether by appropriation, grant, contract, or gift, by sale or lease of surplus real or personal property, or by any other means, whose disposition is not otherwise provided for by law, that shall be credited to the fund. All interest derived from the deposit and investment of moneys in the fund shall be credited to the fund. The moneys in the fund are hereby continuously appropriated to the board of governors of the Colorado state university system and shall remain in the fund under the control of the board of governors and shall not be transferred or revert to the general fund of the state at the end of any fiscal year.
The moneys in the board of governors of the Colorado state university system fundshall be used by the board of governors of the Colorado state university system for the payment of salaries and operating expenses of the board and the entities it governs and for the payment of any other expenses incurred by the board and the entities it governs in carrying out its statutory powers and duties.
Moneys in the board of governors of the Colorado state university system fund whichare not needed for immediate use by the board of governors of the Colorado state university system may be invested by the state treasurer in investments authorized by sections 24-36-109, 24-36-112, and 24-36-113, C.R.S. The board shall determine the amount of moneys in the fund which may be invested and shall notify the state treasurer in writing of such amount.
If the board of governors votes to invest moneys pursuant to sections 23-30-121 and23-30-122, the board of governors shall establish an investment advisory committee consisting of at least five members to make recommendations to the board of governors regarding investments. The investment advisory committee shall include, at a minimum, the treasurer of the Colorado state university system, a member of the board of governors, and three representatives of the financial community.
Source: L. 2007: Entire article amended with relocations, p. 521, § 1, effective August 3. L. 2008: (1) amended and (4) added, p. 342, § 5, effective April 10. L. 2012: (1) and (2) amended, (HB 12-1220), ch. 100, p. 335, § 6, effective August 8.
Editor's note: This section is similar to former § 23-30-106 as it existed prior to 2007.