U.S. Sen. Thom Tillis, R-N.C., introduced the Carryover Equity Act of 2018 – a bipartisan bill that would allow financial flexibility for historically black colleges and universities across the nation — earlier this month.
Passage of the bill would have a major financial impact for North Carolina A&T State University programs, specifically for funding their Cooperative Extension Program — a program which provides educational programs and resources for low-income students and communities across the state. HBCUs are currently unable to carry over more than 20 percent of funds across fiscal years, unlike all other land-grant universities.
“If the Carryover Equity Act is passed, the ability to carryover a greater portion means that we can plan our programs much better and plan them in a long-range fashion,” said Rosalind Dale, an administrator for N.C. A&T and leader of the Cooperative Extension program.
“Sometimes you just need more funds to do things, and that ability to carry over money helps do that, versus trying to spend it before the end of the fiscal year.”
Dale said there are two designations for land-grant universities in North Carolina: 1862 institutions, such as N.C. State University, and 1890 institutions, which are all HBCUs. The 1862 programs do not face the same fiscal barriers, with no restrictions on equity transfer.