(1973)

J.S. HOLT, Acting Secretary, Board of Regents of the Universityof Wisconsin System

In your letter of March 5, 1973, you indicate that the Legislative Audit Bureau reported to the Governor their belief that the student loan funds established by gifts and administered by the student loan offices are trust funds rather than program revenue funds.

In asking my opinion as to whether student loan funds established by gifts are trust or program revenue funds, you are referring to student loan funds designated by the donor and established by gifts received under the authority of sec. 36.065, Stats.,…