Financial Reserves and Designation
- Policy Type: Fiscal Operations
- Policy Title: Financial Reserves and Designation
- Policy Number: NA
- Office Responsible: Funds Business Services
- Related Policies: N/A
- Related Procedures: N/A
- Related Laws: N/A
- HLC Criterion: N/A
Policy Statement
The College’s Operating fund includes the following funds:
General Fund: The General Fund accounts for activities such as the College’s core instruction and support, student services, general administration, and physical plant operations.
Auxiliary Fund: The Auxiliary Fund accounts for activities related to entities that have been specifically designated as auxiliary enterprises, which exist primarily to furnish services to students, faculty, and staff.
Designated Funds: The Designated Funds account for activities for which funding has been set aside for a specific purpose.
In order to meet cash flow requirements, maintain a strong credit rating, and allow for flexibility to respond to changes in the economic environment, the College shall maintain a fund balance in the Operating Fund that reflects no less than three months of operating expenditures.
Change Log
- 06-16-2015 Initial Approval
- 07-01-2018 Effective date (formerly 3.7.7)
