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Edmonds Community College    
 
    
 
  Nov 23, 2017
 
Policy Management
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BOT 11.0 - Board Treasurer and Fiscal Accountability :


SUMMARY/SCOPE
The Board of Trustees maintains fiduciary responsibility for Edmonds Community College District 23, and the President and Vice President for Finance and Operations ensure fiscal operations are in compliance with state and federal laws and regulations.

DESCRIPTION
The President maintains full authority for all operations of the college, and the Vice President for Finance and Operations serves as the Treasurer of the Board of Trustees. The Treasurer shall submit a quarterly report of the operating budget to the Board on a quarterly basis. The budgeting process for any fiscal year shall clearly reflect the college’s Mission, Vision, Core Themes, Strategic Objectives, Strategic Plan, and Values; be fiscally sound; and be derived from an institution-wide strategic planning process.

ASSET PROTECTION

The Board delegates to the President the authority to ensure that assets of the college are protected, adequately maintained, and free from unnecessary risk.

DEBT MANAGEMENT

Edmonds Community College may incur debt in accordance with RCW 28B.50.140 (6) and RCW 39.94. The college debt shall be effectively managed to ensure adequate resources are available to meet debt service requirements of short-term and long-term indebtedness. 

CASH AND INVESTMENT MANAGEMENT

Edmonds Community College shall invest funds in a manner which provides maximum security with the highest investment return, while meeting the daily cash flow demands of the college and conforming to all state laws governing the investment of public funds.

GLOSSARY TERMS
Board of Trustee(s)

RELATED POLICIES AND PROCEDURES
BOT 11.01pr Board Treasurer and Fiscal Accountability: Procedures

SOURCE INFORMATION
(was) B 2.4 Board Treasurer and Fiscal Accountability, B 2.6 Asset Protection, B 2.10 Debt Management, and B 2.11 Cash and Investment Management

RCW 28B.50.140 (6) Boards of trustees - Powers and duties.

RCW 39.94 Financing Contracts

CONTENT OWNER. The primary responsibility for this policy belongs to:
President’s Office, Secretary of the Board of Trustees

PRIMARY CONTENT CONTRIBUTOR (Director/Dean)
President’s Office, Secretary of the Board of Trustees

REVIEW PERIOD
Three years. Requires President’s recommendation to the Board of Trustees.

REVIEW HISTORY
2017-Mar 09  Amended to combine B 2.9 and B 2.10 with BOT 11.0 by Resolution 17-3-6

2017-Mar 09  Amended to combine B 2.6 with B 2.4; renamed and changed to BOT 11.0 by Resolution 17-3-6

2014-Feb 18  Amended to move B 2.7 to B 2.6, B 2.8 to B 2.7, B 2.9 to B 2.8, B 2.10 to B 2.9, and B 2.11 to B 2.10

2014-Feb 18  Amended to combine B 2.5 with B 2.4 and rename by Resolution 14-2-1

2014-Feb 18  Amended to combine B 2.6 with B 2.5

2008-Sep 11  Approved B 2.11 by Resolution 08-9-2

2008-Sep 11  Approved B 2.10 by Resolution 08-9-1

2002-Aug 01  Amended B 2.7 for Name Change

2001-May  Approved B 2.4 - B 2.9

 

 



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