财政储备

600.111 FINANCIAL RESERVES 政策

A. 政策

Adequate fund balance and reserve levels are necessary components of the college's overall financial management strategy and key factors in assessing the college's financial strength and fiduciary integrity. Maintenance of a fund balance assures adequate resources for cash flow and mitigation of short-term revenue shortages, and enables multiyear planning for self-support program improvements. Expenditures drawn from reserve accounts shall require prior approval from the president, unless previously authorized for expenditure within the college's annual budget. Notice of such action will be presented 致董事会 of trustee’s audit committee at their monthly meeting.

B. 指定基金储备

The college will maintain a reserve for designated programs, including auxiliary services and self-support programs, to provide for adequate cash flow, multi-year planning, and operating contingencies. Programs will be designated by the president or president's 被任命者. The reserves will be not more than 15 percent of each fund's operating expenditures, unless a different level is necessary to sustain its operations.

C. 资本公积

The college will maintain, as necessary, a local capital reserves account to manage facilities needs that are not funded or are underfunded by the state. 这些基金 will be designated as capital reserves by the president or president's 被任命者.

D. BOARD FUND BALANCE RESERVES

The college will maintain an annual 董事会 fund balance reserve. 在每一个的开始 fiscal year, 5 percent of the operating budget expenditures will be designated to this reserve for special 董事会 initiatives and unbudgeted emergencies at the 董事会's 自由裁量权. The fund balance is not to exceed 25 percent of the annual operating budget. Once a fund balance of 25 percent of the annual operating budget is reached, the designated 5 percent will be allocated to a student experience enhancement fund and distributed at the 自由裁量权 of the president or 被任命者.

E. GENERAL FUND BALANCE RESERVES

The college will maintain a general fund balance reserve to provide for such items as adequate cash flow, emergencies, budget contingencies, multi-year planning, revenue shortfalls, unplanned but necessary expenditures, or operating changes that occur outside of the planned annual budget. The general fund balance reserves will be 15 percent of the college's operating budgeted expenditures unless a different level is necessary to sustain operations.

F. 受限制的储备

The college will maintain all other 基金 required by law that are restricted as to type of use complying with federal, state, grantor, and office of financial management 规则.

Approved by the president’s cabinet: 10/16/18
Adopted by the 董事会 of trustees: 5/20/09, 11/21/18
最后一次审查:6/28/22
政策 contact: 管理服务

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