Treasurer Role
- Policy Type: Governance
- Policy Title: Treasurer’s Role
- Policy Number: 1.10
- Office Responsible: Board, Treasurer, CEO and CFO
- Related Policies: 1.3 Board Responsibility, 1.5 Trustee Responsibility, and 1.6 Board Officers
- Related Procedures: N/A
- Related Laws: Michigan Community College Act
- HLC Criterion: 2A, 2B, 2C
Policy Statement
The Treasurer shall:
- Be a duly elected member of the Board.
- Work with the CEO to ensure the Board performs its financial oversight duty within
the policy and Executive Limitation parameters established by the Board. The CEO may
delegate this responsibility to the CFO.
- Serve as a member on the Board’s Audit Committee.
- Review the College’s financial monitoring reports.
- Share appropriate and timely financial information with the Board to assist with financial oversight.
- Share appropriate and timely information with the CEO to clarify the Board’s financial expectations regarding Ends policies.
- Ensure that the annual budget supports the Board’s Ends policies and goals.
- Ensure that the annual budget supports the College’s strategic and long-term plans.
- Ensure that the CEO notifies the proper city and township assessing officers of Board approved tax levies.
- Recommend fiscal policy to the Board, as needed to ensure the College’s financial integrity and sustainability.
- Stay informed of legal and regulatory developments relating to the Board’s financial oversight duty.
- Perform other duties as may be prescribed by law or authorized and directed by the Board.
Change Log
- 06-05-1980 Initial Approval
- 12-15-1987 Reviewed
- 02-25-1988 Revised
- 04-17-2018 Revised; referenced in former Policy 1.3.4
- 06-06-2015 Revised
- 04-28-2020 Reviewed, no change
