Receipts and Bank Depositories (Policy 5.030)

 
Authority:F.S. 218.415, 1001.64 , 1010.02; FAC 6A-14.075, 6A-14.0765
Date Adopted:7/82; Rev. 7/92; 12/04, 09/09; 05/2013
Date of Review:05/09; 08/11; 04/13

Policy:

  1. It is the policy of the Board that a secure fiscal system, consistent with good accounting practice, be established for the purpose of collecting and depositing funds. Upon the recommendation of the President, the Board shall approve the banks used as depositories for College funds.
  2. The President is authorized to develop an investment plan and procedure for the investment of surplus funds. Surplus funds are those funds in excess of amounts needed to meet current expenses. The investment plan shall place the highest priority in ensuring the safety of principal and the liquidity of funds.
  3. Credit and debit cards designated by the College may be accepted for payment of tuition, fees, and other amounts due to the College.

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