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Section 2-6 The Medical School Trust Fund.

Upon recommendation of the Advisory Committee on Private Patient Service and the Dean of the Medical School, subject to the recommendations of the Administrator of the Division of Health Affairs and with the final approval of the Chancellor and the President of the University, funds in the Medical School Trust Fund may be used for any or all of the following purposes:

(1) Support of the budget or operational fund of any deserving department.

(2) Support of research activities.

(3) Support of highly desirable Medical School projects.

(4) Any surplus in the Medical School Trust Fund shall be invested permanently or temporarily, under the provisions of the fiscal agency agreement between the Trustees of the Consolidated University of North Carolina and the Wachovia Bank and Trust Company.

Section 2-7 House Staff Members.

A. Stipends for House Staff Members.

In keeping with progressive policies, all house staff members will be paid a full cash salary. Meals, room, laundry and uniforms are available on a cash basis. Prepaid hospitalization insurance may be handled either on a payroll deduction basis or as a benefit of the Residents' Fund. (See Residents' Fund Document; Authorized Expenditures - par. 4).

The Hospital shall pay the salaries of the Interns, the First Year Assistant Residents, and the Second Year Assistant Residents. House staff members above the first three grades shall be paid by the Medical School.

Depending upon the availability of candidates in the Department of Pathology, the Hospital may pay any member of this house staff, regardless of grade, provided the total expenditure is within the authorized budget.

Additional staff members may be appointed within the above provisions from funds outside State appropriation.

B. The Residents' Fund.

In recognition of the mutually beneficial relationship which exists between the members of the house staff of the North Carolina Memorial Hospital and the School of Medicine, there shall be created within the framework of the University a special trust fund to be known as the "Residents' Fund, University of North Carolina" the benefits of which shall accrue to the interns, assistant residents, and residents holding appointments from the North Carolina Memorial Hospital in accordance with the provisions of this document.

Organization.

Responsibility for the orderly operation of this fund shall be placed with the Dean of the Medical School through the Hospital Administrator and he in turn shall forward all transactions and requests through the Dean of the Medical School and the Administrator of the Division of Health Affairs to the Chancellor of the University. There shall be a policy committee, appointed annually by the Chairman of the Medical Board, composed of three representatives of the clinical departments and the president of the House Officers Association. The Dean of the School of Medicine or his representative and the Hospital Administrator or his representative shall be ex-officio members. The Chairman shall be appointed by the Chairman of the Medical Board from one of the attending staff members of the group.

This Committee shall be kept informed of all transactions to and from the Fund, shall recommend any changes in principles or details of the operation of the Fund, and shall properly consider any other matters pertinent to the Fund so that it will operate to the mutual satisfaction of the University Administration, the Hospital, the School of Medicine and the members of the House Staff of the North Carolina Memorial Hospital.