Policies and Procedures Manual

Board Policies

The president may not cause or allow the development of fiscal jeopardy or a material  deviation from the Board approved budget. Accordingly, the president may not do the following:

1. Fail to settle payroll and debts in a reasonable and timely manner.
    
2. Indebt the organization in an amount greater than can be repaid otherwise by unencumbered revenues within the current fiscal year or can be repaid from accounts previously established by the Board for that purpose.
    
3. Expend funds from restricted or designated accounts except for the purposes for which the account was established.
    
4. Fail to provide an annual statement of the College’s financial condition to the Board.

 
5. Fail to alert the Board of significant financial circumstances that arise during the fiscal year.
    
6. Operate in a way that violates the authority reserved by the Board regarding financial matters as specified in BSR-1 Order Delegating Authority.

History of Policy or Procedure
Draft: December 12, 2003, February 16, 2004
Adopted: April 15, 2004
Revised:
Reviewed by: