Policies & Procedures
ADMINISTRATIVE AFFAIRS

 

113.00 FINANCIAL STABILITY POLICY

 

It is the policy of Cowley County Community College (College) to be financially stable, and to meet the financial obligations of the College.


The College shall make a recommendation to the Board of Trustees to set aside a specific amount or percentage of earned general operating revenues to be placed in the general fund balance reserves at the end of each fiscal year (June 30 of each fiscal year). General operating revenues will include funds received from state appropriations, Ad Valorem taxes, tuition, general fees, and local income.


This policy will enable the College to manage revenue shortfalls and cash flows, ensure continued operations, and provide for unforeseen contingencies without impairing the level or quality of services needed to respond to its customers, i.e., students, employees, and external stakeholders. Should exigencies occur or result in the college not able to make a recommendation of a specific amount or percentage of earned general operating revenues into the general fund balance reserves, cautionary review and consideration of the college’s financial position both long term and short term will be required of the Board of Trustees, and efforts focused therein.


Adopted June 19, 2017