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Long-Term Reserves
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Funds that are not budgeted to be spent for three or more years.
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Major/program requirements
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Program requirements include those determined as the requirements to complete a major or minor in a department. Program requirements must be completed in addition to the other requirements for a degree (e.g. liberal education requirements).
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Managed by Active Directory
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Configuration options that affect security of University data, software patches and fixes are provided from a central directory based system that also helps automate storage provisioning, access control, policy auditing, and compliance reporting.
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Mandatory Transfer of Funds
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A transfer of resources that arises out of external binding legal agreements related to circumstances such as: 1) the financing of education facilities, debt retirement, interest, and required provisions for renewal and replacement of facilities not financed by other sources; and 2) agreements with agencies of the federal government, donors and other organizations to match gifts and grants. These may or may not cross funds.
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Market Value
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The number of participating shares multiplied by the price per share. Market Values are updated monthly.
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Mascot Mark
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A University Mark that features the mascot of one of the University campuses.
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Master's Plan A
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Master's degree programs that require a thesis for degree completion
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Master's Plan B
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Master's degree programs that substitute additional coursework and special projects for the thesis
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Master's Plan C
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Master's degree programs that are coursework only which provide an alternative structure for degree completion, such as a culminating experience in the form of a capstone course and/or paper
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Matching
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The University generally refers to matching as nonlabor costs. Cash matches are usually required by sponsors for equipment acquisition programs, specialized research centers, or other multi-disciplinary programs. Typically these funds are provided by the institution.
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Matching Gifts
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A gift, usually from a company or organization, given in addition to a gift from one of its employees (or members). The matching gift is allocated to the same purpose as the original gift or the purpose designated by the company or organization.
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May Session
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The University of Minnesota academic calendar includes Fall Semester, Spring Semester, May Session and Summer Session. May session classes occur between the end of spring semester and the beginning of summer session.
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Medical Hardship or Catastrophic Illness or Injury
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Situations such as cancer, major surgery, AIDS, a serious accident, heart attack, etc. that poses a threat to life.
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Member of University Community
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Any University of Minnesota faculty member, student, or staff member, or other individual engaged in any University activity or program.
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Memorial / Honors Gifts
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Gifts received by the University in memory of or in honor of someone.
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Merchant
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An entity that accepts payment cards as a method of payment for goods, services, information, or gifts.
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Merchant Account
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An account set up by the Office of External Sales (OES). The account is credited with revenue generated from payment card purchases.
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Minimum Standard
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The minimum exam score a student must earn in order to receive University credit for a nationally-recognized exam.
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Minnesota Board of Pharmacy (MNBP)
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The agency authorized by the state of Minnesota to implement and regulate Minnesota Statutes and Board of Pharmacy Rules and to oversee the conduct and professional competency of MNBP registrants.
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Minnesota Government Data Practices Act
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Legislation delineating how private data collected by Minnesota government entities is to be maintained and protected (including financial data).
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Minnesota Plastic Card Security Act
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Legislation prohibiting organizations from keeping the secure information stored on a payment card's magnetic strip in their computer databases after a transaction is completed. The magnetic strips on payment cards contain sensitive information such as the customer's name, account number, PIN, card expiration date, and security code data. This legistation also specifies that an organization violating this provision is responsible for both notifying their customers and covering the expenses of potential fraud if their customer's information is compromised.
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Minor
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A person under the age of eighteen (18).
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Minorities
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For purpose of this program, minorities are persons of color who are African-American (Black), Hispanic, American Indian/Alaskan Native, and Asian/Pacific Islander.
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Miscellaneous Payment Fund
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Cash issued to departments, in rare instances, when miscellaneous expenses cannot be paid using standard University processes. Cash is only used for University related business expenses. Requirements for handling these funds are specified in the appendix of this policy.
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Misconduct
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A violation of local, state, or federal law or University policy.