Asset Protection
- Policy Name: Asset Protection
- Policy Type: Executive Limitations
- Number: EL-06
- Date Approved: October 20, 2025
- Date Amended: March 17, 2026
- Date Last Reviewed: March 2026
The CEO shall not allow assets to be unprotected, inadequately maintained or unnecessarily risked.
Further, without limiting the scope of the above statement by the following list, the CEO shall not:
- Permit the organization to have inadequate bonding and/or inadequate insurance against
property and casualty losses.
1.1. Permit the organization to insure its property with inadequate valuation and limits and for damage due to an insufficient scope of perils.
1.1.1. Permit the organization to have inadequate insurance for theft, disappearance or destruction of money and securities inside or outside the premises.
1.2. Permit the Board members, College staff and individuals engaged in activities on behalf of the organization, or the organization itself, to have inadequate liability insurance.
1.3. Permit the organization to have inadequate Privacy/Cyber insurance. - Allow personnel who are not included under a bond or fidelity and faithful performance
insurance to have access to material amounts of funds.
- Unnecessarily expose the organization, its Board members or staff to claims of liability.
- Receive, process or disburse assets under controls that are insufficient to meet the
Board-appointed auditor’s standards.
- Cause or allow buildings and equipment to be subjected to improper wear and tear or
insufficient maintenance.
- Allow the organization to operate without a plan to mitigate loss to organizational
assets damaged by a disaster and to expedite recovery from a disaster.
- Make purchases that do not result in an appropriate level of quality, after-purchase
service and value for dollar, or do not provide opportunity for fair competition.
- Compromise the independence of the Board’s audit or other external monitoring or advice.
- Permit investments that are inconsistent with state law or managed in a way that is
inconsistent with the primary objectives of capital preservation and reasonable growth.
- Allow intellectual property, trademarks and copyrights, information, and files to
be exposed to loss or significant damage.
- Allow information and files to be retained for an inappropriate period of time, stored
in a manner that does not enable efficient access, or improperly destroyed.
- Endanger the organization’s public image, credibility, or its ability to accomplish
Ends.
- Change the organization’s name or substantially alter its identity in the community.
- See attached version for replacement. Use all of 14 that is now included. Please let
me know if you have questions:
14.1 Naming of Building or Facility or Interior Spaces in Consideration for Donations to the OCC Foundation (Interior Spaces are defined as classrooms, labs, rooms, meeting spaces, and common spaces within College facilities)
14.1.1 The Chancellor and/or the Chancellor’s designee(s) shall negotiate and execute a Building or Facility or Interior Spaces Naming Agreement with the following elements:
a. minimum monetary donation amount with a tiered donation amount for designated Building or Facility or Interior Spaces.
b. A schedule for the monetary donation including the last payment date.
c. The terms for the naming recognition along with the duration of said Agreement.
d. Donor’s written acknowledgement of the College’s right to terminate the agreement and/or remove a name in the event of donor default, including:
(1) failure to pay the gift or (2) conduct detrimental to the reputation, image, mission or integrity of OCC and/or OCC Foundation.
e. Acceptable format for the signage and parameters.
f. Written guidelines/notices establishing naming opportunities within a fundraising campaign, duration of time and requirements. The Chancellor and/or the Chancellor’s designee(s) will report to the Board quarterly as to approved naming agreements. - Create or purchase any subsidiary
