Ch. 6 Business and Finance

Policy

The President establishes a process each year for developing and adopting these budgets:

1. General College operations.
2. Grants and contracts and financial aid funds.
3. College associated student government.
4. Auxiliary services.
5. Capital projects.

All College divisions and departments take part in the annual budget development process. During the process they make budget recommendations affecting their area.

Procedures, Forms, and Documents

• Budget Council
• Budget Development

Policy

The Board authorizes the President to delegate administering the approved budget to appropriate staff.

Procedures, Forms, and Documents

• 1.P.35
• WAC 495D-104

Policy

The College develops and submits the biennial operating budget request to the SBCTC as required. The College gives the information to the Board as requested or needed.

Procedures, Forms, and Documents

• College Budget

Policy

The College develops and submits the biennial capital budget request to the SBCTC as required. The College gives the information to the Board as requested or needed.

Procedures, Forms, and Documents

• College Budget

Policy

The College will set up procedures to get additional resources for enhancing College programs and activities. The College will mainly seek resources from the College Foundation, applications for federal, state and private grants and contract, and self-supporting activities.

The Foundation is a not-for-profit corporation organized under state law and is fiscally, organizationally, and legally separate from the College. The Foundation is governed by its own Board of Directors, and the College President or designee serves as the Foundation’s Executive Director.

Procedures, Forms, and Documents

• Foundation
• Institutional Grants

Policy

The College will maintain a financial accounting and management system that ensures all funds received and paid out by the College follow Board policies, State and Federal laws, OFM and SBCTC regulations, and the state Budget and Accounting Act.

The Vice President of Administrative Services, the College’s designated internal control officer, will maintain compliance with state regulations.

The Vice President or designee will do an annual risk assessment of the College’s internal control system. This includes an evaluation of areas considered high risk.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

College employees will collect College funds in compliance with College regulations and procedures, and state and federal law.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College will manage allocations of state funds to the College per state laws, regulations and procedures. Periodic financial reports will include adjustments to state allocations.

Procedures, Forms, and Documents

• College Budget

Policy

The College will recommend a tuition and fees schedule to the Board for approval per state law and SBCTC rules. During a fiscal year the Board lets the President or designee make changes to the fee schedule as needed and allowed under state law without notifying the Board in advance.

Besides tuition and operating fees, the schedule may include other minor fees as necessary.

1. Refunds of Tuition and Fees.
   The College will recommend and maintain a tuition and fee refund schedule for approval as necessary, per state and federal statutes.
   
   Regulations and procedures for refund of tuition and fees will comply with applicable statutes. Refunds will be made per the following schedule.
   1. General Refund.
      A student who pays tuition before the quarter starts but cannot attend a class may get a full tuition refund. After the 1st day of class, the College grants refunds using this schedule:
      

      Description	Refund Rate
      Cancellation of a course	100%
      In the first 10 business days of the quarter	100%
      After the 10th business day of the quarter and through the 20th business day of the quarter	50%

      The general refund policy applies to all students in state-supported programs or courses. The College makes refunds, in proportion to the tuition and fee refund percentages, for state- supported courses for:
      1. State-supported courses that start after the regular quarter begins.
      2. Short courses that begin any time during the quarter.

The College may extend the refund or cancellation period for students who withdraw for medical reasons. The College will refund tuition and fees for students called into active military service consistent with State law.

Refund deadlines may differ for courses that begin after the 1st week of the quarter. Refund deadlines may also differ for Washington Online, Extended Learning, and classes with start dates mid-quarter or later. The College calculates the refund based on the start date of the student’s longest course during the regular quarter. The College bases proration on the total number of class sessions and the number of sessions completed.

Refunds occur when the student officially completes an add/drop form within the refund period. Students forfeit all claims to a refund of tuition and fees if they do not withdraw from a course or are suspended or terminated for misconduct. Refunds for students on special programs are made only to the funding program administrator.

Revision approved 5/10/2021

Procedures, Forms, and Documents

• Tuition

Policy

The Board, per state laws and regulations, maintains budgetary control over all funds received and distributed by and for students and student activity purposes.

The Board approves the annual associated student government (ASG) budget along with the College operating and capital budgets.

The ASG may get funds from student sponsored activities and programs during the course of a year, as well as services and activities fees collected by the College. The financial Services office maintains a separate ASG fund per applicable rules, regulations, and requirements, to account for the revenues and expenditures of all monies gotten by service and activities fees and their related activities.

Financial Services maintains this fund as an operating fund for the College's ASG.

The College will establish regulations and procedures for collecting and expending any funds obtained by ASG activities.

Procedures, Forms, and Documents

• Associated Student Government

Policy

Some instructional programs involve both a learning activity and a service that may create revenue. Those activities linked with any College instructional program will have procedures to provide for instructional purposes and meet state accounting and administrative requirements. The instructional/service activity may charge for its services and/or products. The College does not intend to compete with or detract from merchants or business’ offering similar services to the general community.

Financial Services maintains and accounts for all expenditures and revenues.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College also gets funds from enterprises, contracts, grants, and special programs and activities. The College maintains accounts for these resources. The College administers all other funds per state regulations and applicable terms of the relevant contracts, grants, and awards.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College will establish, maintain, and manage payroll procedures per state and federal payroll regulations and procedures.

Procedures, Forms, and Documents

• Payroll

Policy

The President authorizes appropriate College employees to approve expenditures and manage specific budget accounts.

These College employees may act for the College in banking and investment transactions for depositing checks and other negotiable instruments, issuance of checks, and authorizing fund transfers and wires of monies and other negotiable instruments:

1. President.
2. Vice President of Administrative Services.
3. Controller.
4. Accounting Manager.

Financial Services will post a list of employees authorized to make College financial transactions and to issue checks drawn on College accounts. Financial Services will notify the Board of any changes in authorized employees.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College may use petty cash accounts to better serve the College and its programs. Petty cash procedures follow state law and regulations. Financial Services oversees all payments and assigns appropriate department staff as a custodian.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College develops and maintains regulations and procedures for College business travel per state laws and regulations. Financial Services supervises all travel related payments.

Procedures, Forms, and Documents

• Travel Procedures (coming soon)
• Open Travel Authorization Procedures (coming soon)

Policy

The College develops and maintains procedures for meals and light refreshments at College sponsored meetings, training sessions, and/or when meals and light refreshments are given to employees not in travel status.

This also allows meals and light refreshments for volunteer advisory committees and other state agency attended meetings per state laws and regulations.

Procedures, Forms, and Documents

• Meals and Light Refreshments Procedures (coming soon)

Policy

The College establishes and maintains procedures for depositing, investing, and managing College funds per state law and regulations.

The College should invest excess cash in investment vehicles per state law, for prudent management of College funds. The College should make investments by means that provide a market competitive rate of return and a minimal amount of risk.

Procedures, Forms, and Documents

• Deposits and Investments (coming soon)

Policy

The College may make necessary interfund transactions, including transferring cash between funds, to cover any deficit cash balances per state law and regulations.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The Board directs the President to establish and maintain sufficient cash and fund balance reserves to guard against state allocations reductions, enrollment declines, and to meet unexpected costs. The College will establish procedures to maintain and properly use reserves.

Procedures, Forms, and Documents

• Fund Balance and Reserve Procedures (coming soon)

Policy

The President may approve the College to incur debt or borrow money per this policy and state laws and regulations. The College will effectively manage the debt level so ample resources are available to meet debt service requirements. The College will not incur debt or borrow money that causes the total debt contracted by the College to exceed the amount for which the debt service in any fiscal year requires the College to expend more than 7% of the average general operating revenue for the 3 preceding fiscal years.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College establishes regulations and procedures to obtain necessary equipment, goods, and services.

These procedures will use purchasing practices that comply with state and federal statutes, regulations, and procedures, and benefit the College the most. They will require prior approval by authorized College employees before encumbering any College funds.

The College will use local vendor services and contracts when reasonable and in the best interests of the College.

1. Receiving and Inventory Control.
   The College’s receiving department accepts all material purchases. The department properly tags non-expendable items and records the serial numbers in official College inventory records.
   The College removes obsolete and/or irreparable equipment from the College maintained inventory control system. The College disposes of equipment and property no longer needed per state guidelines and regulations.
2. Vendors and Solicitation.
   The College sets up procedures allowing private vendors on College campuses including financial institutions and credit card marketers. Per state law on the use of College facilities for private gain, private vendors cannot solicit on College campuses. The College may allow private vendors on campus only for specific College sponsored activities and under specific conditions per College procedures and state statutes and regulations. The College assumes no liability for any private transaction between a student or employee and a vendor.

Procedures, Forms, and Documents

• Purchasing Card Procedures (coming soon)

Policy

The College will develop plans for capital construction projects. It will present the plans and recommendations for financing these projects to the Board every two years as required for submitting the capital budget request.

The College will manage all such capital improvements, including change orders, in compliance with rules, regulations, and statutes governing such projects.

The acceptance of a completed project must comply with the contract’s provisions and with applicable federal and state rules, regulations, and statutes.

Procedures, Forms, and Documents

• Facilities Projects

Policy

Financial Services establishes and publishes the appropriate financial reports per state rules and regulations that govern accounting practices and procedures.

The College gives the Board periodic financial reports at least every year. These reports include budget status, revenue and expenditures, and fund balances. Financial reports will include, but are not limited to, these funds and activities:

1. College Operating Budget Report.
   This report shows all revenues, encumbrances, expenditures, and balances of the College's general operating funds including grants and contract funds.
2. Capital Projects.
   The financial status of capital projects supported by state appropriated capital funds and local capital funds.
3. Student Services & Activities Fees.
   The College will maintain separate accounts per statutory regulations for monies collected to support student programs and activities. This report is the status of these accounts.
4. Auxiliary Enterprises Report.
   The College operates a number of auxiliary enterprises and will report the enterprises’ financial status.
5. Financial Aid Reports.
   The Financial Aid office administers both publicly and privately generated monies for the students’ support. The College will comply with all state and federal reporting requirements related to administering financial aid funds.
6. Self-support courses and activities report.
   The College will report the financial status of self-support non-credit courses and activities.

The College will give the 6 reports listed above to the Board periodically or at the Board’s request.

Procedures, Forms, and Documents

• College Budget

Policy

The Board authorizes the President to establish and administer business functions necessary to the College’s general welfare.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College will buy all insurance, except group employee benefit insurance, through the State Office of Financial Management, with President or designee approval.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The President may recommend depositories for College funds to the Board. The College will notify the Board of potential bank changes before seeking services. The College will get banking and/or other financial services per state regulations and statutes.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The Board recognizes that all College property is held in trust for the state and makes a public accounting of funds and real property. The College must also develop and implement an internal audit control system.

The College will immediately report any inconsistencies or irregularities in the conduct of College business to the Board. The College will close the accounting records and publish a report of the College’s financial status at the end of each fiscal year and as required.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College will effectively manage acquiring art on its campuses. The President can accept or reject the Art committee’s recommendations. The College will establish and maintain procedures for acquiring art, establishing the Art committee, and handling artwork.

Artwork gotten from external or internal donors and purchases is property of the College or College Foundation. Artwork gotten from the APP program is the state art collection’s property.

Procedures, Forms, and Documents

• Art Acquisition Policy (coming soon)

Policy

The College deems maintains vehicles to conduct College business, including those needed for transportation and campus maintenance. The College will develop and maintain procedures for College vehicle use and maintenance. College employees cannot use College-owned or leased vehicles for personal use.

1. Vehicles.
   The College may acquire and maintain, within available resources, vehicles needed for training programs and College business. College vehicle operators must obey regulations and procedures established by state statutes.
   
   Employees may use properly insured privately owned vehicles if a College vehicle is unavailable. The driver of the vehicle must be competent, qualified, and properly licensed. State law and College policies establish reimbursement for using privately owned vehicles.

Procedures, Forms, and Documents

• Fleet Reservations

Policy

The College may provide auxiliary services such as a bookstore, food services, and other similar services. The College will locate and maintain these services on campus as part of the effort to provide facilities, services, and activities for students’ educational and personal development. College employees also have access to these services. Services are subject to internal and external audits.

The College aims to offer these services as an addition to the instructional program or as a service to students and employees. The College does not mean these services to compete with or detract from merchants offering similar services to the general community.

The President will recommend in the annual budget each year those auxiliary services deemed suitable for the College.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The College must anticipate occasional failure to meet financial commitments made to the College. The College may recover such obligations as necessary.

1. Financial Obligations to the College.
   The College will develop and implement regulations and procedures for collecting unmet financial obligations. The College will follow state and federal laws, rules, and regulations in collecting amounts due the College and will protect individual identity information as required by law.
   
   If any student, former student, volunteer, employee, or member of the public owes money to the College for an outstanding overdue debt the College reserves the right to:
   1. Not provide further services of any kind to that person, including but not limited to: transmitting files, records, transcripts, or other services requested.
   2. Collect such funds per applicable state and federal rules, regulations and and laws.
2. Personal Obligations of College Employees.
   The Board declares the College is not responsible for the personal debts of any of its employees.

Procedures, Forms, and Documents

No applicable procedures, forms, and documents available.

Policy

The Board accepts the public’s right to know and full disclosure of official actions per state statute. The Board directs the President to set up and maintain procedures making public records available for public inspection and copying, unless the record falls in specific information that state law or other statute exempts or bars from disclosure. The College assigns and publishes the title of the contact position in charge of College public records and their disclosure.

1. Charges for Copying.
   The College may charge for providing copies of public records and for using College equipment to copy public records. The College will not charge for inspecting, locating, or making public records available for copying. The College may establish and publish a fee based on actual per page cost. If the College has not determined the actual per page cost, the charge will be the allowable amount per state law.
2. Records Management.
   The College will set up and maintain procedures for managing and retaining College records. The College keeps these records per the records retention schedules and requirements set by the Office of the Secretary of State, the SBCTC, and state law.

Procedures, Forms, and Documents

• WAC 495D-276