Section 18A:64-18.1 - Monthly installmentsa. Funds appropriated by the State for the operation of the State colleges shall be paid to each college in 12 equal installments on the first day of each month; except that Thomas A. Edison College of New Jersey shall have its appropriated funds paid to it on a quarterly installment basis.b. Any unexpended balance at the end of any fiscal year shall be retained and may be expended by each college in subsequent fiscal years.L.1986, c.42, s.8, eff. 7/9/1986.