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)

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