SECTION .0700 ‑ EARNINGS: FUNDS: AND PROCEEDS
10A ncac 63c .0701 MINIMUM FAIR RETURN AND DEFINITIONS
(a) Operators may be guaranteed a fair minimum return as
determined by the Division after consultation with the Elected Committee of
(b) Definitions which apply to all of 10A NCAC 63C .0700:
(1) Net profits means the amount remaining
after subtracting the cost of goods sold and the operating expenses from the
(2) Income means the net profit of the facility
less any funds which must be set aside.
(3) Net operating balance means the amount
remaining at the end of the calendar year after subtracting the income paid
year‑to‑date to the operator, from the income earned by the
operation of the facility.
(4) Fair minimum return is the amount
determined by the Elected Committee of Vendors and agreed upon by the Division
as the minimum monthly income to be received by any Business Enterprises
operator without regard to the profit or loss of the facility. Fair minimum
return shall not exceed an amount equal to the hourly Federal Minimum Wage
based on a 160-hour work month. This amount is applicable to all Business
Enterprises Operators regardless of the size or type of facility they currently
History Note: Authority G.S. 111‑27; 34 C.F.R.
395.8; 34 C.F.R. 395.9; 20 U.S.C. sec. 107;
Eff. February 1, 1976;
Readopted Eff. November
Amended Eff. August
1, 2002; April 1, 1990; October 1, 1978;
Pursuant to G.S. 150B-21.3A, rule is necessary without
substantive public interest Eff. November 23, 2015.