IV. Financial Policies

Table of Contents

BOT Board of Trustees :: IV. Financial Policies

A. Financial Planning and Budgeting

1. State Delegation of Authority
2. Trustee and Financial Affairs Committee Authority
3. Financial Affairs Committee Delegation of Authority to Chancellor
4. Financial Affairs Committee Delegation of Authority to Presidents

B. Internal Borrowing

C. Internal Audit

1. Internal Audit Department Mission (Purpose)
2. Internal Audit Function
3. Independence and Objectivity
4. Professionalism and Standards of Internal Audit Practice
5. Internal Audit Operations
6. Quality Assurance Program
7. Audit Committee Function
8. Audit Committee Operations

D.  External Audit

1. State Law Regarding External Auditors
2. Board of Trustees' External Audit Policy

E. Classification of Students for Tuition Purposes (Residency Rules)

1. Basic Rule
2. Definitions
3. Determination of Student Status
4. Application Form
5. Burden of Proof
6. Determination of Domicile
7. Emancipation
8. Presumptions
9. Waiver
10. Military Personnel
11. Review of Student Status
12. Change in Status
13. Student Responsibility to Notify Institution of Changes in Status

F. Student Fees

1. Use of Student Fees to Engage Legal Representation for Students
2. Use of Student Fee Reserves to Pay Municipal Expenses

G. Quasi-endowments (also known as Funds Functioning as Endowments)

1. Trustee Delegation of Authority
2. Definition of and Accounting for Quasi-endowment Funds
3. Revocation of Quasi-endowment Funds

H. Investment Policy

1. State Delegation of Authority
2. Trustee Delegation of Authority
3. Policy Scope
4. Investment Principles

I. Ancillary Financial Policies

1. Receipt of Negotiable Instruments
2. Holding Equity in Start-up Companies

J. Gift Acceptance Policy

1. State Delegation of Authority
2. Trustee Delegation of Authority
3. General Policy on Gift Acceptance

K. Gift Counting Policy

1. State Delegation of Authority
2. Introduction
3. Valuation Methods Required for Counting Specific Types of Gifts
4. Fundraising Reports