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Pierce College Policy Manual
Chapter Seven: Finance

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Title: Fund Raising and Solicitation of Funds

Policy Status: Revised

Date:  11/00

Number:  7.01.0000

The Board of Trustees encourages the implementation of a comprehensive development program and delegates to the district Chancellor or designee the authority to oversee the program.  The development program will include, but not be limited to, the establishment of Pierce College Foundation, the cultivation of donor prospects, the marketing of Pierce College, and the solicitation of private gifts from individuals, corporations, and foundations.

The ownership of the donation is determined by the intent of the donor.  Pierce College Foundation is the fundraising arm of the college and recognized as a 501C 3 with a federal tax identification number of 91-1039199.  Pierce College Foundation agrees to tender to the college immediately all gifts and donations it may receive wherein the college is designated as recipient.

Solicitation of funds by any individual or group for the implied or express benefit of Pierce College or Pierce College Foundation must be authorized and approved by the district President or designee prior to any solicitation or publicity using the name Pierce College.

Title to contributed non-cash gifts will be transferred to the college.  The equipment is recorded by Administrative Services and inventoried as college equipment.

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Title: Expenditures for Political Activities

Policy Status: Revised

Date:  11/00

Number:  7.02.0000

No trustee, official, employee, or other person appointed or employed by Pierce College District Eleven may use or authorize the use of any of the funds or facilities of the college, directly or indirectly, for the purpose of assisting a campaign for election of any person to any office or for the promotion of or opposition to any ballot proposition, or to support or oppose an initiative to the legislature.  Facilities of the college include, but are not limited to, use of stationery, postage, telephone equipment/services, media equipment/services, college computer equipment/services, use of college e-mail and Internet service, use of employees of the college during working hours, and clientele lists of persons served by the college.

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Title: Debts to the College

Policy Status:

Date:  11/00

Number:  7.03.0000

If any person, including faculty, staff, student, or former student, be indebted to the college for an outstanding overdue debt which has not been discharged in bankruptcy, the college shall not provide any further services of any kind to such person, including but not limited to transmitting files, records, transcripts, or other services which have been requested by that person.  Further, the college may offset such outstanding debts against any refunds or payments, other than wages, due to the person owing a debt to the college.

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Title: Authorization of Checking Account Signatures

Policy Status: Revised

Date:  10/03/07

Number:  7.04.0000

The Board of Trustees authorize the following persons to act for the district with respect to any contract or agreement with financial institutions, including the deposit of checks and other negotiable instruments, issuance of checks, and authorizing the transferring of funds and wires of monies and other negotiable instruments.

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Title: Authorization for Investment of Cash Balances

Policy Status: Revised

Date:  11/00

Number:  7.05.0000

The Board of Trustees authorizes the Vice President of Administrative Services and/or the Director of Finance to invest surplus local fund cash balances in legally approved short-term certificates and/or government securities. The above named may designate the accounting supervisor to initiate such investments, subject to above limitation.

The board further authorizes the deposit and withdrawal of Pierce College monies in the Local Government Investment Pool in the State Treasury in accordance with Chapter 294, Laws of 1996.  Signature authority for deposit or withdrawals of monies in the Local Government Investment Pool shall be given to the district Chancellor and/or the Vice-President of Administrative Services.

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Title: Tuition and Fees

Policy Status:  Moved from Chapter 3 # 3.02.0088

Dated:  11/00

Number:  7.06.0000

The Pierce College Board of Trustees has the authority under RCW 28B.15 to establish certain categories of and charges for tuition and fees as well as tuition and fee waiver provisions.  Revisions to any of these charges and/or provisions must be approved by the board.  The specific tuition and fee rates, special fees, tuition and fee waiver provisions, and tuition and fee refund policy shall be outlined in the college catalog.

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Title: Tuition and Fee Refunds

Policy Status: Revised

Date:  7/10/02

Number:  7.07.0000

To be eligible for a refund, a student must officially withdraw from classes.  For official withdrawal, refunds are given according to the following schedule.

100% is refunded if a student withdraws through the fifth day of the Fall, Winter or Spring instructional quarters or if the class is cancelled.

50% is refunded if the student withdraws on or after the sixth day of instruction, provided that the withdrawal occurs on or before the twentieth calendar day following the beginning of instruction.

No refund is made if the student withdraws after the twentieth calendar day of the instructional quarter.

For Summer and short session classes which do not follow the regular college calendar, refunds are given on a timetable proportionate to the standard length of the instructional quarter.

The Vice Presidents of Learning and Student Success or designee may grant exceptions to this refund policy.  Such exceptions may include:  medical emergency and military duty assignment.

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Title: College Tuition Rate, Fees and Waivers Policy

Policy Status: Revised

Date:  February 19, 2003

Number:  7.08.0000

Tuition rates, fees and waivers are approved by the board annually no later than the regularly scheduled July meeting. 

With respect to fees and waivers, the board authorizes the district Chancellor to make adjustments necessary throughout the year and report these changes to the board during the next regularly scheduled board meeting. 

All proposed tuition rate and fee increases shall not exceed the annual I-601 growth limits set by the Office of Financial Management. 

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Title: Cash Reserves

Policy Status: New

Date: December 1, 2010 (Board approved)

Number: 7.09.0000

Pierce College District Number Eleven shall maintain cash reserves within its fund balance accounts for all funds in an amount necessary to allow for prudent cash management of District operations. The creation of a District operating reserve will ensure sufficient funds available for working capital, accommodate fluctuations in revenue or expenditures, allow for contract program discontinuance and other unforeseen circumstances, properly manage reimbursable funding requirements, and provide flexibility on non-recurring expenses, such as program start-up costs or equipment purchases.

Fund balances will fall into three categories: unrestricted), restricted and other. Revenues generated from these funds are considered local revenues allowed under state regulations to carry forward and maintain balances.

Under regular operating conditions, the district’s goal is to maintain unrestricted reserves of at least 10% and sufficient to repay the principal on debts. The Board may approve spending resulting in lower reserve balances in an emergency situation or when they believe it to be in the best interests of the college’s immediate or long-term needs.

Unrestricted fund balances will consist of the following funds:

Restricted Fund Balances will consist of grant accounts, technology fee accounts, services & activity fee accounts, fee accounts established to pay certificates of participation, internal service and enterprise accounts. These funds and accounts will maintain appropriate fund balances to be utilized as designated. Restricted fund balances will consist of the following funds:

Other fund balances will consist of financial aid, capital project, clearing and agency funds. Assessment and annual direction regarding these fund balances will be provided through the operating budget development process, during which the Board shall be apprised of the current status of reserve funds. Other fund balances will consist of the following funds:

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