Chapter 3354:1-20 Finances and Investments

3354:1-20-01 Financial policy.

(A) Budget authorization.

Annually, the board shall:

(1) Approve a five-year financial plan that forecasts all revenues and expenditures for the college. This financial plan shall include the five-year enrollment forecast as a basis for projecting tuition revenues and associated expenses; and

(2) Appropriate all expenditures for the upcoming fiscal year.

(B) Receipt and disbursement of all funds.

(1) Pursuant to section 3354.06 of the Revised Code, the treasurer shall receive and, at the direction of the board, disburse all funds of the college.

(2) All funds of the College must be deposited upon receipt in an authorized bank depository. All funds of the college, and all earned income, must be recorded in the official books of accounts of the college.

(C) Budget monitoring

All revenues and expenditures shall be monitored on a monthly basis. This analysis shall use historical trend data and current year assumptions to project financial position and ensure adequate use of resources.

(D) Investment of excess cash balances

The college may invest its excess cash balances in securities specifically permitted by division (B) of section 3354.10 and section 135.45 of the Revised Code, an in such other securities as may be permitted by law. All college investments in securities shall be undertaken with the primary objective of ensuring preservation of principle. Subject to the foregoing, the college's securities investment decisions shall seek to maximize returns on excess cash balances of the college, and to provide sufficient liquidity.

(E) Resource development

The college shall regularly seek and accept gifts, grants, bequests and devises. Resource development shall ensure gifts, grants, bequests and devises align with the college's mission, vision and values and strategic priorities. The treasurer, or his or her designee, shall ensure the financial terms of any grants are adhered to and financial reports are submitted timely.

(F) Audit

The college will engage in annual financial audits conducted by the auditor of state or the auditor's designee.

(G) Debt management

Criteria shall be established for structuring, issuing, evaluating and otherwise managing debt.

(H) Authority for fiscal management

The treasurer is authorized and directed to develop and issue college-wide financial systems and processes, subject to the continuing direction of the president and the board.

(I) Implementation

The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Effective: 5/26/2017
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 12/5/05

3354:1-20-02 Fees and refunds policy.

(A) Instructional tuition for credit courses.

(1) The board will set credit instructional tuition and general fees.

(2) The college shall maintain a separate instructional tuition and general fee structure for: students who are residents of the district, students who are residents of Ohio but not of the district, and students who are not residents of Ohio.

(3) Tuition rates shall be regularly reviewed and updated in accordance with Ohio law.

(B) Supplemental, incidental and institutional fees.

The college may establish supplementary course and incidental fees to cover certain costs of goods and services related to the education process. The appropriateness of such fees are to be regularly reviewed and updated accordingly. Such fees are to be charged equally to all students regardless of their residency status, credit or audit status, or employment status with the college; except that senior citizens participating in the free tuition course audit program shall not be charged such fees.

Institutional fees are charged to all students as determined by the number of credit hours. The fee is designed to provide students with unlimited access to all campuses, recreation facilities, technology learning centers, libraries and campus special events.

(C) Fees for non-credit courses, training and services.

Fees charged by the college for non-credit courses, training and services shall be established in consideration of college goals and market demand.

(D) Refunds for credit and non-credit courses.

Refunds for students participating in federal financial aid programs may be determined by federal law. Except to the extent refunds are determined by law, the following rules apply:

(1) For academic credit and non-credit courses, refunds of tuition and of instructional, general and supplemental fees shall be made in accordance with a refund schedule, which the college shall regularly promulgate.

(2) No refunds shall be granted if a student is dismissed from the College for disciplinary reasons.

(E) student parking fees.

Parking fees will be charged to students who use collage parking facilities.

(F) Implementation

The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Effective: 5/26/2017
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 12/15/05

3354:1-20-03 Operations policy.

(A) Facilities use by non-college groups.

College facilities are intended for the educational functions of the college. When facilities are not required for college functions, the college may permit non-college groups to use college facilities, subject to reasonable time, place, and manner restrictions. Such groups must agree to pay all costs incidental to such use, including without limitation costs relating to security, maintenance, insurance, custodial, and audiovisual support. A security deposit shall be required prior to the use of college facilities.

(B) On-site vendor employees.

Vendors and their employees are required to adhere to the same levels of conduct and courtesy as are college employees, and are subject to applicable college policies and procedures.

(C) Use of college vehicles.

"College vehicles" are any vehicles owned or leased by the college. College vehicles may be driven only by authorized drivers. An official list of all authorized drivers shall be maintained by the college.

(D) Leasing broadcast tower facilities.

The college will consider proposals for the leasing of tower space and related facilities on college-owned or controlled broadcast towers.

(E) Soliciting, canvassing, and selling at college locations.

No individual or organization shall, at any college location, engage in soliciting, canvassing, or selling of any kind. The foregoing does not apply to individuals or organizations authorized by the district president or the president's designee, or to college employees acting within the course and scope of employment.

(F) Distributing and posting written materials.

Except for individuals or organizations acting within such reasonable time, place, and manner restrictions as may be required by the college, no individual or organization may, at any college location, distribute or post any kind of notices, circulars, signs, or other written materials.

(G) Disposal of surplus property.

The college may determine property to be obsolete or surplus. The executive vice president treasurer shall maintain a standard process for disposal of such property.

(H) Parking fees.

(1) The college shall charge fees for the use of college parking facilities, consistent with a parking fee schedule established by the board.

(2) At the discretion of the District President, net proceeds from special events parking shall be allocated to the Cuyahoga community college Foundation for scholarships and other educational purposes, or to the college.

(I) Implementation.

The president or the president's designee is hereby directed to take all steps necessary and appropriate for the implementation of this policy.

Replace: 3354:1-20-03

Effective: 12/15/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior effective dates: 12/15/05

3354:1-20-03.1 Prohibited conduct procedure.

(A) No person shall, at college facilities or in connection with college activities or operations, violate or act contrary to college policies, procedures, or other requirements. (Employees are not subject to this procedure, but are subject to the college's employee code of conduct policy.) Without limiting the foregoing, the following conduct is prohibited:

(1) Threatening, attempting, or committing physical violence against any person.

(2) Preventing, impeding or disrupting, or attempting to prevent, impede or disrupt, any college activity.

(3) Endangering personal health, safety and welfare of one's self or any other person.

(4) Violating any applicable law.

(5) Using language that is abusive or degrading to any person.

(6) Furnishing false information to the (College.

(7) Gambling for money or other things of value at or with (College facilities.

(8) Unauthorized use of college supplies or equipment for personal purposes.

(9) Being under the influence of alcohol or a controlled substance, or the possession of a controlled substance. (Limited consumption of alcohol may be permitted in accordance with the college's alcohol, drugs, and tobacco policy.)

(B) Any person who violates or acts contrary to college policies, procedures, or other requirements will be subject to ejection from college facilities, and any other sanctions provided under college rules or applicable law.

(C) The college president, any executive vice president, and the college administrator in charge of a particular college facility or activity may immediately terminate any meeting or assembly at or of the college, and may order evacuation, if the meeting or assembly in any way threatens injury or damage to person or property, or if such a meeting is contributing to the violation of any college policy or procedure. No person shall fail to promptly obey such termination or evacuation order.

(D) The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this procedure.

Replaces: part of 3354: 1-20-03

Effective: 12/15/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies:
Prior effective dates: 12/15/05

3354:1-20-03.2 Copyright procedure.

(A) Violation of copyright law is strictly prohibited. It is each individual's personal responsibility to avoid violation of copyright law. Violations of this procedure may lead to sanctions through the applicable college disciplinary process. Violators may also be subject to legal sanctions including federal prosecution and private lawsuits.

(B) Members of the college community are reminded that copyright arises automatically; most expressions, once reduced to a fixed medium, are automatically subject to copyright protection. No filing or copyright notice is required (filings and notices do improve the legal rights of copyright owners). Examples of works automatically protected under federal statute include, without limitation:

(1) Most written expressions - books, articles, essays, and others

(2) Drawings

(3) Photographs

(4) Software

(5) Web designs and content

(6) Logos

(7) Music

(8) Video materials

(C) Copyright owners hold the following exclusive rights to their works:

(1) Copying in any format

(2) Public displaying and performing

(3) Distributing

(4) Modifying

(D) Works protected by copyright may not be copied, displayed, performed, distributed or modified unless explicit permission is granted by the owner(s), or a legal exception applies.

(E) The president or the president's designee is hereby directed to take all steps necessary and appropriate for the implementation of this procedure.

Replace: part of 3354:1-20-03

Effective: 12/15/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 12/15/05

3354:1-20-03.3 Parking procedure.

(A) Students, employees, and visitors must observe college parking rules and applicable laws.

(B) The privilege of maintaining a vehicle on campus may be rescinded at any time if a student, employee or visitor fails to observe this procedure.

(C) The college is not responsible for losses due to theft or damage to vehicles while parked on property owned, leased, or operated by the college, including without limitation parking at special events occurring off college property.

(D) Vehicle registration and parking permits.

(1) All faculty/staff parking lots on campus are permit parking only and all employee vehicles on campus must be registered annually. Registration can be done through "My Tri-C Space." Employee permits can be obtained through the office of campus services and retail operations.

(2) Visitors' parking spaces are dedicated for those who do not have regular business at the college. Visitors' pay stations are available at the rate of one dollar per two hour time block. Multiple time blocks may be purchased. Visitors parking is available at the following locations:

(a) Metropolitan campus: Lots 3 and 6.

(b) Unified technologies center: Lot 8 and off the entrance from Woodland avenue.

(c) Western campus: Lots C and D.

(d) Eastern campus: Lots B and E.

(e) District office: east side of main lot. District visitors must check in at the front desk.

(3) Vendors, contractors, temporary employees and consultants should contact the department for which work is being performed to determine the approved permit type (annual, semester) and payment method.

(a) If the department will be paying for the parking permit, a department representative must complete the necessary registration form and purchase the approved permit type at through the office of campus services and retail operations, using the appropriate organizational budget number.

(b) If the vendor, contractor, temporary employee, or consultant will be paying for parking, they must complete the necessary registration form and purchase the approved permit type through the office of campus services and retail operations.

(4) The college requires employees to register their vehicles so that campus police and security services may notify the owner of any issues while parked on college property. Failure to register an employee vehicle will be subject to but not limited to immobilization device.

(5) Release of immobilization device (boot) will be at the discretion of the towing company.

(6) The registration of a vehicle on campus does not guarantee a parking space, but affords the registrant an opportunity to park in authorized parking areas when parking space is available.

(7) Students registered for the current term should register their vehicles but do not need to display a parking permit. Students are required to pay the campus security and maintenance fee as outlined in paragraph (E) of this policy .

(E) Fee structure.

(1) Employees.

(a) All employees will be charged the prevailing rate through payroll deduction. However, an employee may opt-out if he/she takes public transportation, walks to work or car pools.

(2) Students.

(a) The campus security and maintenance fee is charged to all students registered for classes. This is a tiered fee structure based on credit hours of registration per semester:

(i) One to three credit hours (no fee)

(ii) Four to eleven credit hours forty dollars

(iii) Twelve or more credit hours sixty dollars

(b) The campus security and maintenance fee is designed to provide students with unlimited access to all campuses, recreation facilities, technology learning centers, libraries and campus special events without having to purchase permits.

(F) Special events.

(1) Any group arranging an event on campus must contact the scheduling office in order to reserve special event parking. This includes all college-wide, departmental, and external events.

(2) All costs for special event parking will be charged to the hosting department or external organization through the scheduling office. Exceptions must be pre-approved by the campus presidents' office.

(3) The campus presidents' office may waive parking fees for college-wide open houses, major recruitment events, major athletic events, and major campus events. Other event types must be reviewed by the chief of public safety before fees may be waived.

(4) Special event parking may be reserved at any time, including weekdays, evenings, and weekends.

(5) If a department chooses not to reserve a specific lot on campus for a smaller event, special event permits are available for purchase through the office of campus services and retail operations. It is the responsibility of the hosting department to obtain and mail the permits and to instruct the guests that their car may be subject to a citation if the hangtag is not properly displayed.

(G) Parking restrictions and citations; appeals.

(1) No vehicle is to be left on college property longer than twenty-four hours. Vehicles are subject to tow at owner's expense thereafter.

(2) Citations may be paid by mail or in-person at the enrollment center at the site where the ticket was issued.

(3) Appeals involving citations must be made in writing within ten business days of the ticket date. Appeal forms are available at each campus police and security services office and online atwww.my.tri-c.edu.

(4) Penalties for non-payment of citations may include without limitation:

(a) Grades withheld.

(b) Vehicle registration and drivers license held by the state of Ohio.

(c) Vehicle towed, immobilized (booted), campus parking registration revoked.

(d) Prohibition from parking at college locations and events.

(e) Late fees.

(5) A schedule of parking fines associated with each college citation number is incorporated as Exhibit Ato this policy.

(H) Most parking lots are equipped with a blue phone connected directly to The department of campus police and security services. The department offers motorist assistance twenty- four hours a day for the following emergencies:

(1) Vehicle lock-out.

(2) Battery assists.

(3) Travel directions.

(4) Fuel assists (gas cannot be provided).

(5) Help with contacting roadside assistance.

(6) Escort.

(I) Speed limits.

(1) Parking lots: ten mph.

(2) Roadways: East campus fifteen mph. West campus twenty mph.

(J) The president or president's designee is hereby directed to take all steps necessary and appropriate for effective implementation of this procedure.

Replaces: part of 3354:1-20-03

Effective: 12/15/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 12/15/2005

3354:1-20-04 Policy on health, safety, and the environment.

(A) The college is firmly committed to protecting the environment it shares, and the health and safety of all members of the college community. The college shall:

(1) Establish and implement detailed procedures intended to honor its commitment to protecting health, safety, and the environment.

(2) Monitor and comply with the extensive environmental, health, and safety laws and regulations that apply to the college.

(3) Develop and implement training and prevention programs to help minimize environmental, health, and safety risks.

(4) Identify employees who will be responsible for environmental, health, and safety issues; and take steps to inform the college community how to report incidents and concerns to these employees.

(5) Develop and implement appropriate remedial measures, should an environmental, health, or safety incident become known to the college.

(6) Communicate and coordinate with local authorities, as appropriate.

(B) The president or the president's designee is hereby directed to take all steps necessary and appropriate for the implementation of this policy.

Replaces: 3354:1-20-04

Effective: 12/15/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 12/15/05

3354:1-20-04.1 Emergency response and closing procedure.

(A) In the event of an emergency, or otherwise to protect the safety of people or property, the president hereby designates the executive vice president of administration and finance or the executive vice president's designee to be primarily responsible for taking all necessary and appropriate actions, including without limitation the partial or complete closing of the college.

(B) The following procedures shall apply in evaluating the severity of circumstances that may warrant the emergency closing of all or part of the college:

(1) The chief site administrator shall continually monitor site conditions. Any current or anticipated circumstances that threaten the safety of people or property, or the normal operations of the site, shall be reported immediately to the executive vice president of administration and finance.

(2) The chief of campus police and security services shall be responsible for contacting state, county, and municipal authorities and other agencies or services, as appropriate, for information concerning the severity of the circumstances that threaten the safety of people or property. The chief of campus police and security services shall also keep the executive vice president of administration and finance informed of circumstances that threaten the safety of people or property and for recommending appropriate action.

(3) The executive vice president of administration and finance shall notify the executive vice presidents, chief of campus police and security services, and vice president of public affairs and Information of any partial or complete closing. The vice president of public affairs shall immediately inform the local news media. The president, the president's designee, the executive vice president of administration and finance, and the vice president of public affairs and information are the only individuals authorized to communicate with the news media about closings.

(C) Any time it is deemed necessary to close, the executive vice president of administration and finance shall oversee measures taken to relieve the emergency situation and shall coordinate communications within the college and between the college and outside government authorities.

(D) The vice president of administration and finance shall be responsible for ensuring that major contractors providing services to the college are instructed as to services required while the college is partially or completely closed. Normally, construction contractors and building system contractors shall proceed under the terms of their contracts. Custodial contractors and food service contractors shall normally be instructed to reduce or eliminate the scope of their services while the college is closed.

(E) In advance of emergency situations, and on an ongoing basis, the vice president of administration and finance, executive vice president of administration and finance, and the chief of campus police and security services shall develop and implement emergency systems and safeguards.

(F) The chief site administrator shall be responsible for developing an emergency response plan for implementation in the event of a site emergency. The emergency response plan, which shall be on file in the offices of the campus presidents, executive vice presidents, chief of campus police and security services, and the college vice presidents, shall include at least the following provisions:

(1) The designation of a senior administrative officer responsible for the site at all times, especially when the chief administrative officer of the site may be unavailable for communication concerning an emergency situation.

(2) A means for accommodating on-site communication between supervisors and employees in emergency situations.

(3) A means for keeping the president, the executive vice president of administration and finance, and the chief of campus police and security services informed of conditions at the site at any and all times.

(4) A means for evacuating all or any part of the site.

(5) A means for safeguarding records, cash, and other valuable items.

(6) A means for maintaining vital services at the sites and for procuring emergency repair materials and services.

(7) A means for notifying students and the community of the closing of all or any part of the site, as well as a means for providing them with updated information about the situation.

(8) A means of rescheduling classes which are not held and for notifying students and faculty of the same.

(G) The president or the president's designee shall take all steps necessary and appropriate to implement this procedure.

Replaces: part of 3354:1-20-04

Effective: 12/15/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 3/6/78

3354:1-20-05 Alcohol, drugs, and tobacco policy.

(A) Alcohol.

(1) The sale, service, and consumption of alcohol at any location or function shall in all instances conform to all requirements of applicable law.

(2) The shall maintain an approval process for the sale and service of alcohol.

(3) Public funds shall not be used to purchase alcohol (except that public funds may be used to purchase alcohol required for a -approved curriculum).

(B) Drug-free campus and workplace.

(1) The unlawful manufacture, distribution, dispensation, possession, or use of drugs or alcohol is prohibited on property, anywhere the is conducting business, and at all -sponsored activities. A violation of the foregoing may also be a violation of Schedule I through V of Section 202 of the federal Controlled Substances Act, Chapter 2925 of the Revised Code, and of local laws. Violations of these federal, state, and local laws may carry severe penalties including but not limited to incarceration and fines.

(2) The health risks associated with the use of illicit drugs and the abuse of alcohol include without limitation, an increased risk of AIDS, hepatitis, heart disease, cancer, and other diseases; birth defects, respiratory failure and strokes; unwanted pregnancies; injuries from accidents and deliberate acts of violence; and death.

(3) The shall continue to maintain a drug-free awareness program, including specific drug and alcohol counseling treatment and rehabilitation programs for students and employees. Examples of such programs may include: Tri-C Cares, Health Services, and the Alcohol Drug Abuse Program Team (ADAPT).

(4) The will conduct a biennial review of its drug-free awareness program to determine its effectiveness, implement any changes, and ensure that sanctions are consistently enforced.

(5) Employees working under the provisions of a federal grant or contract must be given a copy of the drug-free workplace policy; must be notified that, as a condition of their employment, they will abide by the policy; and must report to the internal legal counsel any criminal drug statute conviction for a violation occurring in the workplace no later than five days after such conviction.

(6) Employees and students will be reminded annually of these drug-free campus and workplace requirements.

(C) Tobacco.

(1) The premises shall be tobacco free, thus supporting a healthy environment for all who are on the grounds of any locations.

(2) This policy applies to all individuals, including but not limited to employees, students and visitors who may be located inside or outside of any buildings, residences, or parking lots on the grounds of any of our locations.

(3) Tobacco is defined as all products derived from, or containing tobacco, including and not limited to:

(a) Cigarettes (e.g. cloves bidis, kreteks)

(b) Cigars and cigarillos

(c) Hookah smoked products

(d) Pipes and oral tobacco (e.g. spit and spitless, smokeless, chew, snuff)

(e) Nasal tobacco

(f) Electronic cigarettes and vapes or any other product intended to mimic tobacco products and/or deliver nicotine other than for the purpose of cessation, or that contains tobacco flavoring.

(4) It is the responsibility of all students, faculty, staff and visitors to observe, adhere to and respect the policy. Students, faculty and staff are encouraged and empowered to respectfully inform others about the policy in an ongoing effort to support the goal of becoming tobacco free and improving individual health and well-being.

(D) Violations.

(1) A violation of this policy by a student may result in disciplinary action (which may include expulsion), and referral for prosecution.

(2) A violation of this policy by an employee may result in disciplinary action (which may include termination), and referral for prosecution.

(E) Implementation.

The president or the president's designee is hereby directed to take all steps necessary and appropriate for the implementation of this policy.

Effective: 8/14/2016
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 5/20/78, 4/28/05

3354:1-20-05.1 Alcohol, drugs, and tobacco procedure.

Tobacco.

Smoking and other forms of tobacco. As used in the alcohol, drugs, and tobacco policy, the phrase "smoking and other forms of tobacco" is defined to include the use of electronic cigarettes.

Replaces: part of 3354:1-20-05

Effective: 4/20/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 5/20/78

3354:1-20-05.2 Tobacco free procedure.

(A) Cessation.

(1) The college will support students, faculty, and staff in their efforts to become tobacco free.

(2) Tobacco cessation programs and support will be available to students, faculty, and staff. Assistance to students, faculty and staff to overcome addition to tobacco is available through human resources and the office of student life, athletics, and recreation.

(3) Nicotine replacement therapy products for the purpose of cessation are permitted on college owned, operated, or leased property.

(B) Signage.

(1) College plant Operations is responsible for the installation and maintenance of signage, in consultation with the office of human resources and office of student life, athletics and recreation.

(2) Signage will be placed appropriately on college owned, operated or leased property. Signage may be featured on college ground, entrances to and exits from college buildings, including parking garages and on College owned and leased vehicles. Additionally, signage may be placed in former designated smoking areas or areas that experience difficulties in eliminating tobacco use.

(C) Communication

(1) It is the responsibility of students, faculty, and staff to proactively and respectfully inform those on our campus about the change in the college's tobacco policy.

(2) The college's breathe free advisory board and taskforce will actively pursue additional means of communication to our external stakeholders.

(3) The college will provide ongoing communication to new and returning students, faculty, and staff about the college's one hundred per cent free policy.

(D) Compliance

(1) It is the responsibility of all students, faculty, staff, and visitors to observe and adhere and respect the college's tobacco free policy. Students, faculty and staff are encouraged and empowered to respectfully inform others about the policy in an ongoing effort to support the college's goal of becoming tobacco free and improving individual health and well-being.

(2) College leaders, managers, supervisors and employees are expected to support individuals becoming tobacco free and to promote compliance in their areas of responsibility and on the campus/site where they are located.

(3) Violation of the college's tobacco free policy may result in corrective action under the student conduct Code, employee code of conduct policy, or other applicable college policies and procedures. Visitors refusing to comply with the college's tobacco free policy may be asked to leave college owned, operated, or leased property.

(E) The president or the president's designee is hereby directed to take all steps necessary and appropriate for the implementation of this procedure.

Effective: 8/14/2016
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09

3354:1-20-06 Procurement policy.

(A) When making procurements, the college shall use sound business procedures. These procedures will be designed to ensure:

(1) Timely receipt of procurements of a quality and price appropriate to the needs of the college;

(2) Compliance with applicable laws; and

(3) Provision of economic opportunities for the Cuyahoga County community.

(B) "Procurement" means a purchase, lease, or other acquisition of use or ownership rights to any goods, services, real estate, or works of improvement.

(C) Only the treasurer or the treasurer's designee may enter into procurement agreements on behalf of the college, except when otherwise provided by law or board resolution.

(D) The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Replaces: 3354:1-20-06

Effective: 2/25/2005
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 10/16/78, 3/19/81, 3/26/89, 3/4/94

3354:1-20-06.1 Procurement procedure.

(A) Scope

(1) Every procurement shall be made in accordance with this procedure.

(2) Only the treasurer or the treasurer's designee may sign or otherwise enter into a procurement agreement.

(B) Board approvals

(1) Annually, the board approves the long range financial plan for the college. As part of that plan, the board approves the annual budget consisting of operating expenditures, special fund expenditures, capital expenditures and transfers, restricted funds expenditures, and auxiliary funds expenditures.

(2) All contracts for works of improvement of two lakh dollar or more require board approval.

(3) All contracts for goods and services of two lakh dollar or more, individually or in the aggregate, to any vendor in any fiscal year require board approval. Any single contract for goods or services of two lakh dollar, or more to any vendor in any one or more fiscal years requires board approval.

(4) All contracts for the sale or acquisition of real estate require board approval.

(C) Competition and efficiency

The is committed to providing economic opportunities for the Cuyahoga county community to do business with the college in a fair and open process. the college is also committed to providing value to taxpayers through efficient operations. As such:

(1) Goods costing less than fifty thousand dollar may be procured outright or through a request for proposal, request for quotation or bid process. goods costing fifty thousand dollar or more shall be sought through request for proposal or , and will be advertised at least once, through at least one local newspaper of general circulation or on the college website. Contracts for printing shall be let in accordance with ohio Revised Code 3345.10 section.

(2) Services costing less than fifty thousand dollar may be procured outright or through a request for proposal, request for quotation or bid process. At the discretion of the treasurer or the treasurer's designee, a request for proposal, request for quotation process will be used for services costing fifty thousand dollar or more, and will be advertised through at least one local newspaper or on the college website.

(3) Works of improvement costing less than two lakh dollar may be purchased outright or sought through a request for proposal, request for quotation or bid process. Works of improvement costing two lakh dollar or more shall be sought through public sealed bids, and shall follow statutory requirements.

(4) The college may take full advantage of contracts let in a competitive and open bidding process by the state of Ohio, the federal government, and/or a recognized local, regional, or national group purchasing organization/consortia. In these cases, the requirement for the college to conduct its own request for proposal process or request for quotation process is waived.

(D) Waiver of request for proposal or request for quotation process

The treasurer or the treasurer's designee may waive request for proposal or request for quotation process under the following circumstances:

(1) Emergency: The goods are needed to correct or prevent an emergency health, environmental or safety hazard; for special time sensitive events; or for emergency repair or replacement of existing equipment essential for daily operations. Prior to making a procurement on an emergency basis, the procurement must be approved by the president, or the executive vice president/treasurer; and such individual must also seek prior confirmation from the board chair (or vice chair), who may consult with one or more board members. After making a procurement on an emergency basis, the executive vice president/treasurer shall seek ratification from the board at the next regular meeting.

(2) Urgent necessity: In cases of urgent necessity or for the security and protection of persons or property, the president or the executive vice president/treasurer may authorize the award of contracts. Prior to making a procurement on an urgent necessity basis, the procurement must be approved by the president, or the executive vice president/treasurer; and such individual must also seek prior confirmation from the board chair (or vice chair), who may consult with one or more board members. After making a procurement on an urgent necessity basis, the executive vice president/treasurer shall seek ratification from the board at the next regular meeting.

(3) Sole source: There is only one provider of the goods sought by the college; or the requested goods are unique in design, performance, or use specifications.

(E) Treasurer's designees for procurements on behalf of the college

The treasurer hereby designates the individuals holding the following positions to sign or otherwise enter into the following types of procurement agreements:

1) The executive director of college hospitality and retail services may procure hospitality and retail goods and services on behalf of the college that are less than two lakh dollar.

2) The campus directors of the learning commons may procure print and non-print education resource materials, costing less than two lakh dollar with any one company or supplier.

3) The vice president of integrated communications may procure time-sensitive media purchases that are less than two lakh dollar.

4) The general counsel, in consultation with the college as appropriate, may procure legal services on behalf of the college within the approved budget for the office of legal services and as authorized by the Ohio attorney general.

5) Plant operation managers and plant supervisors may use procurement cards in an emergency situation to purchase goods or services costing less than ten thousand dollar. Written restrictions, guidelines, and exceptions that are established for the use of procurement cards are to be enforced by the executive director of supplier managed services or the accounts payable manager.

In no other circumstances are college employees authorized to sign or otherwise enter into procurement agreements on behalf of the college. Employees who make commitments outside the authority granted in this procedure, do so at the risk of disciplinary action including termination.

(F) Definitions

(1) "Goods" are items such as materials, supplies, printing, operating repairs and durable goods (such as furniture, furnishings and moveable equipment).

(2) "Services" are items such as insurance policies, professional and consulting services, maintenance agreements, utilities, and leases of durable goods/equipment and leases of facilities, but do not include legal services.

(3) "Works of improvement" are improvements to real property, including without limitation construction, reconstruction, enlargement, alteration, modification and repair of a building or other real property.

Effective: 8/14/2016
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 10/16/78, 3/19/81, 3/26/09, 3/4/94, 2/25/05

3354:1-20-07 Investment policy.

(A) The purpose of the investment policy is to assist the college, members of the college's investment committee and its investment advisor, officers and directors of the college, and any other external parties to the college in the definition and administration of the investment policy for the college in order to effectively supervise, monitor, and evaluate the college's investment program.

(B) Investment policy goals.

(1) Stating in a written document the college's attitudes, expectations, objectives, and guidelines regarding investment of the college's financial assets.

(2) Setting forth an investment structure for managing the college's assets. This structure includes identification of asset classes, strategic asset allocation, and acceptable asset ranges above and below the strategic asset allocation. This structure is expected to produce a sufficient level of overall diversification and total investment return over the college's investment time horizon while operating with current ORC requirements.

(3) Providing guidelines that control the level of overall risk and liquidity assumed for the investment portfolio so that all assets are managed in accordance with stated objectives in paragraph (C) of this rule.

(4) Encouraging effective communications between college board members, the investment committee including its investment advisor, and officers, directors, and staff of the college.

(5) Establishing formal criteria to monitor, evaluate, and compare, on a regular and ongoing basis, the performance results achieved.

(6) Complying with all applicable fiduciary, prudence, due diligence requirements, and with all applicable laws, rules and regulations from various local, state, federal, and international political entities that may impact fund assets.

This investment policy has been formulated based upon consideration by the college of the financial implications of a wide range of policies, and describes the prudent investment process that the college deems appropriate.

(C) Statement of objectives.

The objectives that the college has established in conjunction with a comprehensive review of the current and projected financial requirements are as follows:

(1) The strict adherence to the Ohio Revised Code and the authority granted under division (B) of R.C. section 3354.10 of the Revised code, whereby eligible district funds may be invested according to the provision of section 3345.05 of the revised code. Specifically:

(a) Cash equivalents and fixed income. A minimum of twenty-five percent of the average amount of the college's investment portfolio over the course of the previous fiscal year must be invested in securities of the United States government or of its agencies or instrumentalities, the treasurer of state's pooled investment program, obligations of this state or any political subdivision of this state, certificates of deposit of any national bank located in this state, written repurchase agreements with any eligible Ohio financial institution that is a member of the federal reserve system or federal home loan bank, money market funds, or bankers acceptances maturing in two hundred seventy days or less which are eligible for purchase by the federal reserve system, as a reserve.

(b) Longer term equity investments. A maximum of seventy five per cent of the average amount of the college's investment portfolio over the course of the previous fiscal year may be invested as detailed in division (C)(2) of section 3345.05 of the Revised code.

(c) Hire an investment advisor. The investment advisor must:

(i) Be licensed by the division of securities under section 1707.141 of the revised code or be registered with the securities and exchange commission.

(ii) Have experience in the management of investments of public funds, especially in the investment of state government investment portfolios or be an eligible institution referenced in Section 135.03 of the revised code.

(2) The primary objective will always be the long-term preservation of the corpus, followed by the growth of the corpus.

(3) The minimization of idle cash while simultaneously providing adequate liquidity for the college to meet its daily financial obligations.

(4) To control costs of administering and managing the fund.

(5) The desire of the college is to maintain the corpus while generating a target return relative to a weighted average of the relevant market indices.

(6) To optimize return of the portfolio with reasonable and prudent levels of risk.

(7) To maintain an appropriate asset allocation based on a total return policy that is compatible with a flexible spending policy, while having the potential to produce positive real returns.

(8) To provide an equity and fixed income portfolio of readily marketable assets with an asset allocation weighted toward equity investments that are diversified among asset classes and investment styles in order to minimize the risk of large losses.

(D) Long term pool ("rainy day fund").

(1) As set forth by the Ohio Revised Code, the college will maintain, at a minimum, twenty-five per cent of its total portfolio in cash equivalents and fixed income instruments as defined in paragraph (C)(1) of this rule . The remaining portion may be invested into a long term pool or "rainy day fund." Monies placed into this fund will be reviewed annually by the board to determine the appropriate amount of the college's investments that may be maintained in this fund. As the name suggests, the monies in this fund will be invested with a long-term time horizon and will be left to appreciate over time for the future benefit of the college with the exception of the following:

(2) In order to keep the college's general fund whole, quarterly interest revenue that would have been earned had the monies been held outside the rainy day fund in the college's traditional cash and cash equivalent investments (as calculated by the previous quarter's average monthly STAR Ohio rate divided by four and multiplied by the rainy day fund balance as of the last day of each quarter) shall be distributed to the general fund. All other principle and interest earned in excess of the amount so calculated shall remain invested in the rainy day fund. Interest revenue distributions to the general fund shall not exceed the amount of the rainy day fund's previous quarter actual return.

(3) Should an unforeseen and previously unencountered event were to occur where an additional distribution from this fund would be necessary, a recommendation for a distribution will be made by the investment committee and approved by the board. Monies in the rainy day fund will be reviewed collectively with the remainder of the college's portfolio to ensure that the college's portfolio, in the aggregate, is in compliance with requirements of the Ohio Revised Code.

(E) Investment committee.

(1) Composition/backgrounds. The investment committee will consist of three voting board members. It may have up to two non-voting, non-college, non-foundation members. The committee will be supported by the treasurer and the investment advisor, neither of whom will be members. Desired committee member backgrounds are executives in banking and finance, accounting, and community financial or investment experts.

(2) Responsibilities. The investment committee meeting schedule will follow the same frequency as that of the college board of trustees, but in no event shall the investment committee meet less than quarterly. Their duties are to review and recommend revisions to this investment policy, provide the board advice and recommendations on its investments, and retain the services of an investment advisor. In addition, fiduciaries will discharge their duties with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. Further delineation of roles and responsibilities are contained in exhibit 1.

(3) Ethics.

(a) Board members, college officers, and employees involved in the investment process shall refrain from personal business activity that could conflict with the proper execution of the investment program or which could impair their ability to make impartial investment decisions. Any non-voting advisory members appointed to the investment committee under college bylaws shall file with the Ohio ethics commission the same financial disclosure statement as is required to be filed by all voting trustees. Such financial disclosure statement shall be filed at the same time the financial disclosure statements of voting trustees are filed.

(b) Employees must disclose personal investments which could be affected by investment decisions made for the college.

(c) The president of the college may direct any employee involved in the investment of college funds to comply with any appropriate provision of the Ohio ethics law.

(F) Investment advisor(s).

(1) It is a requirement of the college to retain one or more independent and objective investment advisors to assist in the selection, monitoring, and reporting of college investments and their performance. In addition, if desired by the investment committee, in the selection, reporting, and evaluation of investment manager performance. In regards to the retention of the services of any investment advisor, the investment committee or designee shall obtain from all investment advisor candidates under consideration written disclosure of all affiliations, cross-ownership arrangements, referral arrangements, discounts, compensation arrangements, and any other business relationships then existing or then being negotiated between the investment advisor candidate and any investment manager within the universe of managers monitored by such investment advisor.

(2) After an investment advisor has been retained by the investment committee, prior to any vote by the investment committee and the college's board of trustees relating to the retention or termination of the services of a particular investment manager, the investment committee or designee shall obtain from the investment advisor written disclosure of all affiliations, cross-ownership arrangements, referral arrangements, discounts, compensation arrangements, and any other business relationships that may then exist or that are then being negotiated between the investment advisor and the investment manager whose termination or retention is being considered. The term "business relationships" as used in the preceding provisions of this paragraph refers to those relationships considered conflicts of interest under the Ohio ethics law as applicable to the college.

(3) The investment advisor(s) will provide the investment committee their most recent ADV form and each subsequent update for the duration of the relationship. (The ADV form, filed with the U.S. securities and exchange commission, details whether the advisor is properly registered and has two parts. Part 1 has information about the advisor's business and whether they have had problems with regulators or clients. Part 2 outlines the advisor's services, fees, and strategies).

(G) Portfolio: long term pool/"rainy day fund."

(1) Time horizon. The long term investment guidelines and the portfolio's strategic asset allocation are based upon an investment horizon of greater than six years (a full market cycle is generally five to seven years), so that interim fluctuations should be viewed with appropriate perspective.

(2) Risk tolerances. In establishing the risk tolerances of the college, the ability to withstand short and intermediate term variability in long term investment performance has been considered. The college's current financial condition, plans for the future and other economic and market factors suggest collectively that the portfolio may experience some interim fluctuations in market value and total return in order to achieve long-term objectives.

(3) Performance expectations. Based on historical experience, the college is projected to achieve a minimum annual real rate of return of approximately five percent after deducting for advisory, money management, custodial fees, and total transaction costs (GDP deflators will be used as the measure of inflation in calculating real returns). It is recognized, however, that the expected rate of return is based upon projections developed from historical data and projections of likely future returns. As such, the college will regularly review the performance of the benchmark indices to determine if the expectations for the asset classes utilized are reasonable in light of actual investment experience (the investment committee is responsible for reviewing the investment experience).

(4) The college's investment advisor will report on a monthly basis to the investment committee the latest monthly results measured against the indices shown below and peer groups, as applicable to the investments being held at that time.

Asset Class

Benchmark Index

Large Cap Equities -Value

Russell 1000 Value

     

Large Cap Equities - Core

S&P 500

     

Large Cap Equities - Growth

Russell 1000 Growth

Mid Cap Equities - Core

Russell Mid Cap

  

Russell Mid Cap Value

  

Russell Mid Cap Growth

Small Cap Equities - Core

Russell 2000

International Equities

All Country World ex-USA

Convertible Securities

Merrill Lynch Investment Grade Convertible Securities Index excluding mandatory convertibles (V0A1)

Fixed Income

Lehman Aggregate

Alternative Investments

CPI +5%

Cash

3-month Treasury Bill

(H) Asset allocation.

(1) Based on balancing the risks and rewards of market behavior, the following asset classes and policy ranges are selected for the long term pool/"rainy day fund:"

Asset Class

Policy Range

Large Cap Domestic Equity

30% - 50%

Mid Cap Domestic Equity

5% - 15%

Small Cap Domestic Equity

0% - 10%

Total Domestic Equity

40% - 60%

International Equity

5% - 20%

Total Equity

50% - 70%

Alternative Strategies

0% - 20%

Domestic Investment Grade Fixed Income

25% - 45%

Total Fixed Income

25% - 45%

Cash and Cash Equivalents

0% - 5%

(2) Positions in alternative investments must be recommended by the investment advisor and approved by both the investment committee and the board of trustees in advance of any action. Alternative investments are allowable only in "fund of fund" vehicles. A direct investment in an alternative investment is strictly prohibited.

(3) Re-balancing of strategic allocation. Depending upon market conditions, the percentage allocation to each asset class may fluctuate within the listed policy ranges. Such strategic allocations should be reviewed and approved by the investment committee chairman and the college's executive vice president/treasurer on an ongoing basis. In the event that the allocation to a certain asset class falls above or below the above established ranges, the advisor should make a recommendation to the investment committee to rebalance the portfolio as quickly as practical, typically within thirty days.

(I) Investment manager guidelines.

(1) Assets will be managed externally by SEC-registered investment managers; FDIC-insured banks; state or federally-regulated banks; or trust companies using separate accounts, mutual funds or commingled funds. Multiple managers may be used within each asset class.

(2) Equity managers - large cap domestic, mid cap domestic, small cap domestic, and international:

(a) Types of securities:

(i) Asset class:

(a) Large cap domestic - common stocks or equivalents listed on an established stock market (e.g., NYSE, AMEX, NASDAQ) and readily marketable with market capitalization generally exceeding $5 billion. Non-marketable securities may not be purchased or held without prior approval from the committee. As used herein, "generally exceeding five dollar billion" means that greater than sixty-seven per cent of the value of the portfolio is invested in securities when the market capitalization of which exceeds five dollar billion.

(b) Small/mid cap domestic - common stocks or equivalents listed on an established stock market (e.g., NYSE, AMEX, NASDAQ) and readily marketable with market capitalization generally exceeding $500 million. Non-marketable securities may not be purchased or held without prior approval from the committee. As used herein, "generally exceeding five hundred dollars million" means that greater than sixty-seven per cent of the value of the portfolio is invested in securities when the market capitalization of which exceeds five hundred million dollar.

(c) International - common stocks or equivalents listed on an established stock market (e.g., NYSE, AMEX, NASDAQ, FTSE, NIKKEI, DAX) and readily marketable with market capitalization generally exceeding one billion dollar. Nonmarketable securities may not be purchased or held without prior approval from the committee. As used herein, "generally exceeding $1 billion" means that greater than fifty per cent of the value of the portfolio is invested in securities when the market capitalization of which exceeds one billion dollar.

(b) Diversification. Investment manager should diversify the portfolio in an attempt to minimize the impact of substantial losses in any specific industry or issue. Therefore, each equity account may not:

(i) Invest more than approximately five per cent of the account valued at cost in a given issuer. A

(ii) Hold more than approximately ten per cent of the account valued at market in a given issuer.

(iii) Large cap, mid cap and small cap domestic - allow any one sector to exceed thirty percentage points or two times the sector weighting of the relative benchmark whichever is greater, absent committee approval. Additionally, domestic equity managers shall limit international-domiciled securities to ten per cent of their portfolio value, absent committee approval.

(iv) International - allow any country weighting in a portfolio to be more than fifteen percentage points above the country weighting within the MSCI EAFE Index, and limited emerging market exposure to twenty-five per cent of total international exposure.

(c) Quality.

(i) Equity issues - convertible bonds will be considered as an equity investment and must be rated at least "Baa/BBB" by a major rating service (e.g. Moody's or Standard & Poor's) or equivalent, unless otherwise approved by the committee.

(ii) Cash equivalents - limited to U.S. treasuries and agencies and high quality corporate issues rated A-1, P-1 or F-1, or higher.

(d) Prohibited investments. The following categories of securities and strategies are not considered appropriate at the present time:

(i) Private placements;

(ii) Unregistered or restricted stock;

(iii) Margin trading/short sales;

(iv) Commodities, commodity contracts, precious metals or gems;

(v) Real estate property (excluding REITs);

(vi) Guaranteed insurance contacts;

(vii) Securities lending; pledging or hypothecating securities.

(e) Performance objectives. Performance objectives are intended to provide quantifiable benchmarks to assist in evaluating investment manager effectiveness. All manager performance returns will be measured net of all management and trading fees, and against relevant peer groups will be performed primarily over rolling three-year and five-year periods, with a thirty percent weighting assigned to three-year periods and a seventy per cent weighting assigned to five-year periods. Shorter term comparisons will also be prepared quarterly.

(i) Large cap domestic equity accounts. Each active large cap investment manager is expected to achieve net-of-fee returns equivalent to the appropriate index plus at least one per cent, annualized, and rank in the top forty per cent relative to other value/growth equity managers over rolling three and five-year periods.

(ii) Mid cap and small cap domestic equity accounts. Each active mid cap and small cap investment manager is expected to achieve net-of-fee returns equivalent to the applicable benchmark plus at least one and one-half per cent, annualized, and rank in the top forty per cent relative to other mid cap and small cap equity managers over rolling three and five-year periods.

(iii) International equity accounts. Each active international investment manager is expected to achieve net-of-fee returns equivalent to the MSCI EAFE (Morgan Stanley/Capital International Europe, Australia and Far East Index of twenty developed countries) index, plus at least one per cent, annualized, and rank in the top forty per cent relative to other international equity managers over rolling three and five-year periods.

The investment managers of the plan are expected to:

(i) Acknowledge the acceptance of this document;

(ii) Meet, when requested, with the committee to review investment activity and results. This review should include the current portfolio strategy, as well as commentary on the outlook for the economy and capital markets;

(iii) Provide performance measurement data, explanation, and other communication as required by the advisor;

(iv) Provide frequent communication with the client and the advisor on all significant matters pertaining to the investment of these assets; and

(v) Promptly notify the client and the advisor of any significant changes in the manager's investment strategy, organization structure, financial condition, or personnel assigned to manage the client's assets.

(3) Fixed income managers.

(a) Types of securities. Fixed-income securities may include investment grade, marketable debt issues of:

(i) U.S. treasuries and government agencies

(ii) U.S. taxable municipal obligations

(iii) U.S. corporations

(iv) U.S. banks or other financial institutions

(v) U.S. mortgage- and asset-backed securities

(vi) U.S. collateralized mortgage obligations (CMO)

(vii) Eurodollar bonds

(b) Diversification.

Fixed-income section. Each investment manager should diversify the portfolio within the quality and maturity guidelines (outlined in the next section) in an attempt to minimize the adverse effects of interest rate fluctuations and credit risk. Therefore, except for U.S. treasury and agency obligations, each fixed-income account may not:

(i) Invest more than approximately five per cent of the account valued at costs in a given issuer.

(ii) Hold more than approximately ten per cent of the account valued at market in a given domestic issuer (regardless of the number of different issues).

(iii) Allow any one industry to exceed twenty per cent of the portfolio at market, absent committee approval.

(c) Quality.

(i) Fixed-income securities. Bonds held in the portfolio must be rated at least investment grade ("Baa/BBB" or equivalent) by the Moody's/S&P rating services. The weighted average credit quality of the intermediate fixed income portfolio must maintain a credit rating of Aa/AA or better. High yield securities are not permitted. In the event a security is downgraded to below investment grade, the investment manager must immediately notify the advisor and the client and discuss whether or not the security should be sold.

(ii) Cash equivalents. Limited to U.S. treasuries and agencies and high quality corporate issues rated A-1, P-1 or F-1, or higher. In the event a security is downgraded below A-1, P-1 or F-1, the investment manager must immediately notify the advisor and the client and discuss whether the security should be sold.

(d) Maturities.

(i) Intermediate-term. The maturities of the individual bonds held in the portfolio are at the discretion of the investment manager. However, the weighted average maturity of the fixed-income portfolio shall be no greater than ten years. Further, the duration of the intermediate term portfolio shall not exceed +/- twenty percentage points of the duration of the appropriate index.

(ii) Short-term/cash, fixed income/cash and cash equivalents. The maturities of the individual bonds held in the portfolio are at the discretion of the investment manager. However, the weighted average maturity (at cost) of the fixed-income section shall be no greater than five years. Further, the duration of the short term fixed income portfolio shall not exceed +/- twenty percentage points of the blended benchmark xx% Merrill Lynch ninety-one day treasury bill index and xx% of the Lehman Brothers one-three year bond index.

(e) Prohibited investments. The following categories of securities and strategies are not considered appropriate at the present time:

(i) Private placements;

(ii) Unregistered or restricted stock;

(iii) Margin trading/short sales;

(iv) Commodities, commodity contracts, precious metals or gems;

(v) Real estate property (excluding REITs);

(vi) Guaranteed insurance contacts;

(vii) Securities ending; pledging or hypothecating securities.

(f) Performance objectives. Performance objectives are intended to provide quantifiable benchmarks to assist in evaluating investment manager effectiveness. All manager performance returns will be measured net of all management and trading fees, and against relevant peer groups. Performance evaluation against the appropriate benchmarks will be performed primarily over rolling three-year and five-year periods, with a thirty per cent weighting assigned to three-year periods and a seventy per cent weighting assigned to five-year periods. Shorter term comparisons will also be prepared quarterly.

(i) Intermediate-term fixed income benchmarks. The investment manager is expected to achieve net-of-fee returns in excess of the Lehman Brothers intermediate aggregate bond index, annualized, and the median manager in a fixed income universe of similar duration and credit quality, both over rolling three-year and five-year periods. Shorter term comparisons will also be prepared quarterly.

(ii) Short-term/cash, fixed income/cash and cash equivalents. The investment manager is expected to outperform net of fees the composite index weighted xx% Merrill Lynch ninety-one day treasury bill index and xx% Lehman Brothers one-three year bond index, and the median manager in a fixed income universe of similar duration, credit quality, both over rolling three-year and five-year periods. Shorter term comparisons will also be prepared quarterly.

(g) The investment managers of the plan are expected to:

(i) Acknowledge the acceptance of this document;

(ii) Meet, when requested, with the committee to review investment activity and results. This review should include the current portfolio strategy, as well as commentary on the outlook for the economy and capital markets;

(iii) Provide performance measurement data, explanation, and other communication as required by the advisor;

(iv) Provide frequent communication with the client and the advisor on all significant matters pertaining to the investment of these assets; and

(v) Promptly notify the client and the advisor of any significant changes in the manager's investment strategy, organization structure, financial condition, or personnel assigned to manage the client's assets.

(J) The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Exhibit 1 - Role and Responsibility Grid

Decision Category

Board of Trustees

Investment Committee

Treasurer's Office

Investment Advisor

Spending Policy (Investable" Assets)

Approves; Reviews Annually

Determines

Helps Create/ Supports

Helps Create/ Supports

Investment Policy (Includes all issues of governance)

Approves; Reviews Annually

Recommends/ Defines/ Implements

Helps Create/ Supports

Helps Create/ Supports

Asset Allocation (Broad Categories: Equity/Fixed Income, etc.)

Part of Policy; Reviews Annually

Defined in Investment Policy/Reviews Annually

Review for Compliance/ Implements Change

Review for Compliance/ Recommends and Helps Implements Change

Sub-Asset Allocation (Large/Small/ Growth/Value, etc.)

Part of Investment Policy

Defined in Investment Policy/Reviews Quarterly

Review for Compliance/ Implements Change

Review for Compliance/ Recommends and Helps Implements Change

Rebalancing Asset Allocation/ Sub-Asset Allocation

Not Involved

Accepts/Rejects Recommendations from Staff and Investment Advisor

Implements/ Consistent with Policy

Recommendations Delivered

Investment Managers Termination/ Selection

Not Involved

Accepts/Rejects Recommendations from Staff and Investment Advisor

Implements/ Consistent with Policy

Recommendations Delivered

Performance Reporting

Annual Review

Quarterly Review (at a minimum)

Monthly Review

Maintain

Oversight of Investments/ Create Reporting

Effective: 1/22/2016
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 02/16/2008

3354:1-20-07.1 Tax-Exempt Debt Compliance Procedure.

(A) Tax-exempt debt

The use of tax-exempt debt plays an important role in funding a significant portion of the (College's capital projects. As a result, the college realizes the importance of complying with federal and institutional requirements regarding the issuance and ongoing management of its tax-exempt debt. This procedure is intended to define compliance practices including compliance actions, records management, and process continuity within the administration and finance department.

(B) Definitions

Post-issuance debt compliance: The activities undertaken following the issuance of tax-exempt debt in order to comply with federal guidelines. Failure to comply with federal guidelines could potentially render the interest of debt as taxable to investors.

Tax-exempt debt (bonds) issued by the college: debt issued and managed (1) by the college; or (2) by a State authority at the request of the college and for which the college pays its pro-rata share of the debt service.

(C) Maintaining tax-exempt status

Tax-exempt bonds are valid debt obligations used by the college to finance construction of facilities, permanent improvements, and to receive funds in anticipation of the collection of tax receipts. This tax-exempt status remains throughout the life of the debt provided that all applicable federal tax laws are satisfied. Post-issuance tax compliance begins with the debt issuance process itself and provides for a continuing focus on investments of debt proceeds and use of debt-financed property.

In order to maintain the debt status as tax-exempt, the college must comply with post-issuance debt requirements. Post-issuance compliance responsibilities include:

(1) Tracking that proceeds of a debt issuance are spent on qualified tax-exempt debt purposes;

(2) Maintaining detailed records of all expenditures and investments related to debt funds;

(3) Ensuring the project financed is used in a manner consistent with the legal requirements; and

(4) Providing necessary disclosure information regarding financial and operating status annually.

(D) Debt issuance process

Before tax-exempt debt is issued, there are pre-issuance requirements to consider. These include:

(1) Creating a time schedule of projected expenditures to be paid with bond proceeds from the expected date of issuance. At the time of issuance, there needs to be a reasonable expectation that bond proceeds will be spent in a timely manner (generally five per cent within six months and eighty - five per-cent within three years) and that the projects will proceed with due diligence.

(2) Creating a schedule setting forth the expected useful life of assets to be financed or refinanced. The tax rules generally provide that bonds should be structured so that their weighted average maturity (WAM) is less than one hundred twenty per cent of the remaining weighted average life of the assets being financed.

(3) Certain authorizations must be obtained by the administration and finance department once projects and financing requirements are determined. Notable authorizations include:

(a) Declaration of official intent to issue tax exempt debt - The college board of trustees passes a resolution authorizing the issuance of tax-exempt debt up to a specified limit prior to the college issuing tax-exempt debt for a project. This resolution also approves pricing parameters and interest rate maximums for the debt issuance.

(b) State authorization - If student fees are pledged to secure bonds or notes, then the college must seek approval from the Ohio board of regents prior to issuing the debt.

(c) Legal opinions - A legal opinion issued by bond counsel, who opines on authorization and the tax-exempt status of the interest on the debt being issued.

(d) Tax certificate - This is also known as an arbitrage certificate and is provided evidence compliance with applicable laws and regulatory requirements related to the issue of tax-exempt debt.

(E) Proceeds tracking

The college allocates debt proceeds to the various projects being funded with the tax-exempt debt. The spending of the proceeds toward eligible project costs is tracked along with the rate at which the proceeds are being spent. Debt proceeds used to pay issuance costs related to any debt are tracked by treasury management to ensure that such costs do not exceed two per cent of the "net proceeds" of such debt. Total proceeds applied to projects are monitored to ensure that they do not exceed the total amount of debt funding authorized by the college's board of trustees.

The treasury management department shall maintain information about any derivative agreements integrated with the debt for tax purposes, including all correspondence from the counterparty, and shall maintain records of all bid forms and results, recommendations of financial advisors, contracts and legal opinions related to all investment contracts, derivative agreements, and other investment products.

(F) Maintaining detailed records

Basic records relating to any debt transaction are maintained as well as documentation evidencing the:

(1) Expenditure of debt proceeds;

(2) Use of debt-financed property;

(3) Sources of payment or security for the debt; and

(4) Documentation pertaining to any investment of debt proceeds.

The college seeks to comply with regulatory records retention requirements. Federal regulations provide that records relating to a tax-exempt debt transaction should be retained for so long as they are material in the administration of any federal tax law. Therefore, material records will be kept for the life of the debt, including any refunding of the debt, plus four years.

(G) Private business use

Each debt issuance is subject to a limitation on the amount of "private use" permitted in the facilities funded by that issuance. The applicable limit is ten per cent for governmental debt issuances. To prevent violation of private business use limitations, the college will:

(1) Ensure that there are no dispositions of bond financed property without approval of the administration and finance department and legal counsel;

(2) Verify that there are no changes in use of bond financed facilities without the approval of the administration and finance department;

(3) Review management contracts relating to bond financed facilities to determine compliance with management contract safe harbor rules, provided by the IRS;

(4) Review and approve all leases associated with bond financed facilities; and

(5) Verify any naming rights associated with bond financed facilities do not violate private business use limitations.

(H) Disclosures and filings

Continuing disclosure requirements - Ongoing information on the college's financial condition must be provided to nationally recognized securities information repositories, including the electronic municipal market access (EMMA) filing site. Required annual EMMA filings include audited financial statements, additional annual information, and certain specified events, if material. Other required filings include:

(1) Tax forms - Tax-exempt debt obligation issuers are required by the IRS to file the 8038 series of forms (8038, 8038-G, 8038-T, and 8038-R).

(2) Continuing disclosure requirements - Ongoing information on the college's financial condition must be provided. Commitment must be made in the bond documents to provide secondary market disclosure.

(3) Statistics and filings required to be sent to the state for any debt issued through a state authority for the benefit of the college.

(4) Arbitrage certificates - Within five years of the anniversary of the debt issue, and every five years thereafter and on the maturity date of the issue in order to close out the issue, the college or a consultant engaged by the college, must calculate any arbitrage on the debt, and make any required rebate payment.

(I) Continuity and ongoing review

To provide for continuity of compliance with post-issuance debt requirements, the college has included as part of its routine monitoring and review:

(1) An annual private use questionnaire;

(2) An annual meeting among financial personnel to review private use of facilities and compliance with this policy; and

(3) A listing of individuals with primary and back-up responsibilities to monitor and continue compliance.

(J) Possible compliance issues

Upon discovering any possible non-compliance with the tax law requirements and covenants, it is the individual's responsibility to promptly inform the administration and finance department and bond counsel, so they can evaluate remedial action options or voluntary settlements to preserve the tax-exempt status of the bonds.

(K) Responsibilities

The executive vice president of administration and finance or designee is responsible for:

(1) Maintaining pertinent debt information for post-issuance compliance;

(2) Monitoring actions under this policy;

(3) Providing oversight and coordination to assist with tax-exempt debt compliance; and

(4) Arranging regular meetings among appropriate individuals to review policy compliance.

The vice president of finance and business services is responsible for:

(1) Monitoring private use in the financed facilities for compliance with representations made in the applicable tax certificate, and IRS laws and regulations;

(2) Tracking draws and expenditures of all debt proceeds (including for costs of issuance and working capital) spend-down timelines, and use of other funds for the projects. including donations, operating revenue and other sources of equity; and

(3) Tracking debt proceeds used to pay costs of issuance.

Appendix A

Attachment A: Checklist for Tax Exempt Bond Compliance

Cuyahoga Community College District

Administration and Finance Department

General Background

Federal tax laws impose a number of requirements for bonds issued by public colleges and universities to qualify as and maintain their status as tax-exempt bonds. Many of the tax law requirements applicable to tax-exempt bonds relate to circumstances and "reasonable expectations" at the time the bonds are issued, and other requirements relate to ongoing covenants throughout the term of the bonds. The tax law requirements are generally addressed in the tax compliance certificates or agreements executed at the time bonds are issued.

The procedures that follow are designed to supplement the tax compliance certificates and agreements executed in connection with the issuance of each series of bonds issued by Cuyahoga Community College (the "College") on or after April 2, 2009 in order to ensure post-issuance compliance by the College with the tax laws over the term of each series of bonds. The procedures also cover certain tax matters during the issuance of future bonds. The College's Department of Finance and Business Services ("Finance") is providing these written procedures to institutionalize the College's compliance with the tax law requirements across all of the different departments with responsibilities over bond proceeds and bond-financed facilities.

These procedures are not intended to take the place of the tax compliance documents for each series of bonds or to provide comprehensive coverage of all of the tax issues that are associated with tax-exempt bonds. These procedures should be revised or updated periodically to reflect any federal tax law changes which may become applicable to future bond issues. These procedures also contain post-issuance continuing disclosure requirements for bonds.

Objectives

* To provide procedures for tracking the use and allocation of bond proceeds.

* To provide procedures for tracking investment returns on bond proceeds to ensure compliance with yield restrictions.

* To provide procedures for periodically monitoring the use of bond-financed facilities.

* To provide standards and procedures for record retention with respect to the College's bonds.

* To provide procedures for the timely completion and filing of calculations and any payments with respect to rebate requirements.

* To provide procedures for the timely compliance with continuing disclosure requirements.

Procedures

REQUIREMENT

RESPONSIBLE PARTY

LOCATION

1. Pre-Issuance Considerations

     

1.1Projected Use of Proceeds. With respect to the issuance of new money bonds, identify the capital projects to be bond financed in accordance with the Sections 3345.12 and 3354.121 of the Ohio Revised Code. Create a time schedule of projected expenditures to be paid with bond proceeds from the expected date of issuance through the expected date of full expenditure of bond proceeds. At the time of issuance of bonds, there needs to be a reasonable expectation that bond proceeds will be spent in a timely manner (generally 5% within 6 months and 85% within 3 years) and that the projects will proceed with due diligence.

Vice President, Facilities Development and Operations

District Offices

1.2Declaration of Intent. To the extent that bonds will be used to reimburse costs to be incurred prior to issuance of bonds, adopt a "declaration of intent" which includes a description of the projects and a maximum aggregate amount of bonds which is expected to be issued.

Vice President, Finance and Business Services

District Offices

1.3Useful Life. Create a schedule setting forth the expected useful life of assets to be financed or refinanced with proceeds of each issue. The tax rules generally provide that bonds may not be outstanding longer than necessary, and therefore, bonds should be structured so that their weighted average maturity (WAM) is less than 120% of the remaining weighted average life of the assets being financed, which is a safe harbor for this purpose.

Executive Director, Accounting and Financial Operations

District Offices

1.4Obtain Comparable Pricing Data. At the time of pricing of negotiated issuances, the College, its financial advisor or other representatives should identify primary market offerings and/or secondary market trades from issuers of comparable structure and credit quality. Pricing data from comparable credit transactions, along with other market factors, should be used to inform pricing negotiations.

Vice President, Finance and Business Services

District Offices

1.58038 Filings.Ensure that IRS Form 8038-G or 8038-B is filed for tax-exempt bonds, respectively. Obtain date-stamped copy of each filing.

Bond Counsel

Bond Transcript

2. Use of Proceeds

     

2.1Expenditure of Proceeds.

     

2.1.1 Use of proceeds should be determined in advance in accordance with the debt procedure. Bond proceeds are to be used solely for capital expenditures, qualified costs of issuance, and current operating expenses related to TANs.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

2.1.2 Review and approve draw requests to ensure that each release of proceeds is for qualified capital expenditures in accordance with the debt procedure.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

2.1.3 Monitor spending of proceeds against reasonable expectations at issuance and against requirements for exceptions to rebate payments. See 1.1 and 3.1.

Vice President, Facilities Development and Operations & Vice President, Finance and Business Services

District Offices

2.1.4 For the reimbursement of any expenditures paid prior to the issuance of bonds, ensure that such expenditures are allowable reimbursements (generally, issuance costs, "preliminary expenditures" such as design and engineering and costs covered by a "declaration of intent". See Declaration of Intent above).

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

2.1.5 Ensure that a final allocation of each series of bond proceeds, including investment proceeds, to qualifying expenditures is made no later than 18 months after the later of (a) the date the expenditure was made; or (b) the date the financed property was placed in service, but not later than the earlier of (i) 5 years after the bonds were issued or (ii) 60 days after the bonds were retired. Otherwise, proceeds are allocated based on direct tracing method, i.e., draws for project expenditures. Final allocation is used primarily to allocate bond proceeds to qualified uses (e.g., to account for change in use or private business use) or to longer life assets.

District Director, Treasury Management

District Offices

2.1.6 For each bond financed facility, where possible, the total costs should be mapped to bond proceeds and non-bond proceeds. This enables allocation of bond proceeds to

Vice President, Facilities Development and Operations &

Senior Accountant/Analyst for

District Offices

qualified uses.

Capital and Construction

  

2.2Investment of Proceeds.

     

2.2.1 Proceeds may be invested at a yield above the yield on the bonds during the "temporary period" for each category of proceeds. For the Project Fund, the temporary period is 3 years (based on an expected spend-down at the time of issuance). For the Debt Service Fund, the temporary period is 13 months.

District Director, Treasury Management

District Offices

2.2.2 Make sure that proceeds of a bond issue are not invested in investments with a yield above the bond yield after the end of the available temporary period.

District Director, Treasury Management

District Offices

2.2.3 Monitor spending against expectations for satisfaction of applicable requirements for temporary period. See 1.1 above and 2.2.5 below.

District Director, Treasury Management

District Offices

2.2.4 Ensure that investments acquired with bond proceeds (particularly GICs and other investment agreements) satisfy IRS regulatory safe harbors for establishing fair market value.

District Director, Treasury Management

District Offices

2.2.5 Ensure that any debt service funds meet the requirements of a bona fide debt service fund (generally, fund is depleted at least annually except for reasonable carry-over).

Vice President, Finance and Business Services

District Offices

3. Rebate.

     

3.1Monitor Spend-Down Requirements for Exceptions to Rebate. If there is potential for positive arbitrage during the applicable temporary periods, monitor spend-down requirements for exception to rebate payments. See the tax compliance certificates for the applicable 6 month, 18 month or 24 month spending exceptions and monitor the spending of proceeds prior to the semi-annual target dates for the applicable exception.

Vice President, Finance and Business Services & District Director, Treasury Management

District Offices

3.2Rebate Consultant. Engage a rebate consultant for the College to perform rebate exception spending analysis and rebate calculations to ensure timely compliance and timely payments of rebate amounts. Coordinate with rebate consultant to make sure all applicable payments and IRS forms are filed in a timely manner. Rebates are due 60 days after the fifth anniversary of the bond issuance date and every five years thereafter and 60 days after retirement of all bonds of an issue.

Vice President, Finance and Business Services

District Offices

4. Use of Bond-Financed Facilities.

     

4.1Disposition of Facilities. Ensure that there is no disposition of bond financed property without approval of Finance and legal counsel.

Vice President, Finance and Business Services

District Offices

4.2Change in Use. Ensure that there are no changes in use of bond-financed facilities to non-qualified uses (e.g., private use) without approval of Finance and legal counsel.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

4.3Research Contracts. If applicable, all research contracts associated with

Vice President,

District Offices

bond-financed facilities should be reviewed (where possible, in advance) to ensure compliance with private use restrictions on research facilities.

Facilities Development and Operations &

Vice President, Finance and Business Services

  

4.4Management Contracts. All management contracts relating to bond-financed facilities should be reviewed (where possible, in advance) by Finance and legal counsel to determine compliance with the management contract safe harbor rules.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

4.5Leases. Any lease of bond-financed facilities to non-College individuals or entities (private physicians, food service operations, vendors operating in bond financed facilities) should be reviewed (where possible, in advance) by Finance and legal counsel.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

4.6Naming Rights. All naming rights agreements associated with bond-financed facilities should be reviewed.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

4.7Monitoring. Compliance questionnaires are filled out for bond-financed facilities at least annually that describe use and identify any leases, management agreements or research agreements.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

5. Record Retention.

     

5.1Records of Disbursement. For each bond issue, maintain in physical or electronic form all records and documents describing disbursement of proceeds while the bonds or any refunding bonds are outstanding and

Vice President, Finance and Business Services

District Offices

for three-years thereafter.

     

5.2Records of Investment Income. For each issue, maintain in physical or electronic form all records relating to investment receipts for all investments acquired with bond proceeds while the bonds are outstanding and during the 3 year period following maturity or redemption of the bond issue.

District Director, Treasury Management

District Offices

5.3Hedge and Swap Records. Maintain records relating to all hedge and swap contracts.

Vice President, Finance and Business Services

District Offices

6. Ongoing Education.

     

6.1Annual Education. At least annually, facilities managers and development officers should have training on basic bond rules relating to uses of facilities.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

6.2Responsible Person. Ensure that persons responsible for these procedures are given training on details of procedures, and if there are transitions of responsible persons, new responsible person is given training on these procedures.

Vice President, Facilities Development and Operations &

Vice President, Finance and Business Services

District Offices

7. Identify Possible Compliance Issues.

     

7.1 Upon discovering any possible non-compliance with the tax law requirements and covenants, promptly inform Finance and legal counsel to evaluate remedial action options or voluntary settlements to preserve the tax status of the bonds.

Vice President, Finance and Business Services

District Offices

8. Continuing Disclosure Filings.

     

8.1 File annually with EMMA and Bond Trustee "Annual Information" (as described in Continuing Disclosure Agreements for bonds) by 180 days after fiscal year end.

Executive Director, Accounting and Financial Operations

Disclosure Agreement in each Bond Transcript

8.2 File annually with EMMA and Bond Trustee audited financial statements when available.

Executive Director, Accounting and Financial Operations

Disclosure Agreement in each Bond Transcript

8.3 File notice to EMMA and Bond Trustee of (i) certain "Specified Events" (as described in Continuing Disclosure Agreement) if material, (ii) failure to file Annual Information and (iii) change in accounting principles used in financial statements.

Executive Director, Accounting and Financial Operations

Disclosure Agreement in each Bond Transcript

Replaces: part of 3354:1-20-07

Effective: 2/16/2008
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 11/13/78, 2/16/87, 12/15/05

3354:1-20-09 Identity theft policy.

(A) Purpose and leadership.

(1) Identity theft is a serious concern in modern society. The college creates, obtains, and stores personally-identifiable financial and other sensitive information, and desires to ensure appropriate measures are taken to prevent identity theft involving such information. Therefore, the college shall maintain an active identity theft program in accordance with federal trade commission regulations enacted at 16 C.F.R. 681 et. seq. (often referenced as the "red flag rule"). This identity theft policy shall be supported by an "identity theft procedure."

(2) The vice president for administration and finance shall serve as "program administrator," leading development, implementation, and oversight of the identity theft program.

(B) Identifying red flags.

(1) The program should identify red flags for covered accounts and incorporate those red flags into the program.

(a) The program should incorporate the following risk factors in identifying relevant red flags for covered accounts:

(i) The types of covered accounts offered or maintained by the college.

(ii) The methods provided by the college to open covered accounts.

(iii) The methods provided by the college to access covered accounts.

(iv) The college's experience, if any, with identity theft.

(b) The program should incorporate appropriate red flags from relevant experiences and sources, including without limitation:

(i) Incidents of identity theft previously experienced.

(ii) Methods of identity theft that reflect changes in risk.

(iii) Regulatory or professional guidance.

(c) As appropriate, the program shall include relevant red flags from the following categories of risk factors:

(i) Alerts, notifications, or other warnings received from consumer reporting agencies or service providers, such as fraud detection services.

(ii) The presentation of suspicious documents.

(iii) The presentation of suspicious personal identifying information.

(iv) The unusual use of, or other suspicious activity related to, a covered account.

(v) Notice from customers, employees, students, victims of identity theft, law enforcement authorities, or other persons regarding possible identity theft in connection with covered accounts.

(C) Detecting and responding to red flags.

The college's identity theft procedure should address the detection of red flags in connection with the opening of new covered accounts and existing covered accounts. The identity theft procedure should provide for appropriate responses to detected red flags to prevent and mitigate identity theft. The responses should be commensurate with the degree of risk posed.

(D) Updating the identity theft program.

The college should periodically, and at least annually, update the identity theft program (including the identity theft policy and procedure), in accordance with appropriate factors, which may include:

(1) The experiences of the organization with identity theft.

(2) Changes in methods of identity theft.

(3) Changes in methods to detect, prevent and mitigate identity theft.

(4) Changes in the types of accounts that the organization offers or maintains.

(5) Changes in the business arrangements of the organization, including without limitation, alliances, joint ventures, and service provider arrangements.

(E) Definitions.

(1) "Covered accounts" are the college's deferred payment plans, emergency loans, perkins loans, and my tri-c card accounts.

(2) "Identifying information" is "any name or number that may be used, alone or in conjunction with any other information, to identify a specific person," including without limitation: name, address, telephone number, social security number, date of birth, government issued driver's license or identification number, alien registration number, government passport number, student identification number, employee identification number, computer's internet protocol address, and routing code.

(3) "Identity theft" is a "fraud committed or attempted using the identifying information of another person without authority."

(4) "Red flag" means a "pattern, practice, or specific activity that indicates the possible existence of identity theft."

(F) Methods for administering the program.

In administering the identity theft program, the program administrator shall be responsible for:

(1) Training of college staff on the program.

(2) Requiring and reviewing reports on compliance with this program. The identity theft procedure should include appropriate details about this reporting process.

(3) Leading prevention and mitigation efforts in particular circumstances.

(4) Monitoring and ensuring college compliance with the identity theft policy and procedure.

(5) Overseeing the activities of service providers performing activities related to covered accounts to ensure that such activities are conducted pursuant to reasonable policies and procedures designed to detect, prevent, and mitigate the risk of identity theft.

(G) The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Replaces: 3354:1-20-09

Effective: 12/3/2009
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 12/3/09

3354:1-20-10 Zero tolerance for violence on college property policy.

(A) Zero tolerance

(1) The college is committed to creating and maintaining a working and learning environment, which is free from violence. Understanding and mutual respect toward all individuals are essential elements to excellence in teaching and learning, to the existence of a safe and healthy workplace, and to the maintenance of a healthy campus culture which serves the needs of the community. The college prohibits violent acts or threats of violence.

(2) Any employee, student or visitor who commits a violent act, or threatens to commit a violent act, is subject to disciplinary action and or civil or criminal prosecution, as appropriate.

(3) The college has zero tolerance for violence against or by any member of the college's workforce or any other persons on college property. Any person who makes threats, exhibits threatening behavior, or engages in violent acts on college property shall be subject to immediate removal from the premises.

(4) For the purpose of this policy, violence and threats of violence include but are not limited to:

(a) Any act that harms or endangers the safety of oneself or another, or

(b) Any physical or verbal threat, behavior, or action which is interpreted by a reasonable person to carry the potential:

(i) To harm or endanger the safety of others;

(ii) To result in an act of aggression;

(iii) The intentional damage/destruction or threat of damage/destruction of property owned, operated, or controlled by the college;

(iv) Making harassing or threatening telephone calls, or sending harassing or threatening letters or other forms of written or electronic communications; intimidating or attempting to coerce another to do wrongful acts, as defined by applicable, law, administrative rule, or policy that would affect the business interests of the college;

(v) The willful, malicious and repeated following of another person, also known as "stalking," and making of a credible threat with intent to place the other person in reasonable fear for his or her safety;

(vi) making a suggestion or otherwise conveying that an act to injure persons or property is "appropriate," without regard to the location where such suggestion occurs;

(vii) Possession of a weapon while on college property (unless specifically approved as a job-related requirement or in designated parking areas in accordance with the concealed carry weapons law of the state of Ohio as set forth in chapter 2923 of the revised code); or

(viii) committing acts of violence motivated by, or related to, race, age, color, national origin, religion, sexual orientation, sex, disability, marital status, sexual harassment or domestic violence. Violence can include more than inflicting physical harm to others or self Violent behavior also consists of threats and acts of aggression. Some examples of threats are remarks of revenge and abusive and obscene statements. Acts of aggression are abusive behavior, such as stalking, pounding of fists, stomping, swiping at objects, and tampering with property, in an attempt to intimidate, inflict harm or destroy property.

(B) The president or his/her designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Effective: 5/26/2017
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09
Prior Effective Dates: 1/26/16

3354:1-20-11 Funding new initiatives policy.

(A) Student success pools

Each year, the college is encouraged to set aside monies within the budget to be used for student success initiatives.

(B) Piloting new initiatives

(1) When necessary, new initiatives or services should be tested on a "pilot" basis. The length of the pilot or experimental period will be determined based upon the time needed to adequately assess the new initiative or service.

(2) After the pilot period ends, the college assesses the effectiveness of the pilot against its stated goals and makes a decision on whether to:

(a) Discontinue the pilot and apply resources to other student success initiatives.

(b) Continue the pilot or expand the pilot for purpose of further study.

(c) When possible, apply specific outcomes from the pilot and move beyond the pilot to full implementation.

(C) Implementation

The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Effective: 5/26/2017
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09

3354:1-20-12 Unrestricted fund reserve policy.

(A) Unrestricted fund reserve

The unrestricted fund reserve is maintained to provide stability and flexibility to respond to unexpected adversity and/or opportunities. In establishing the level of unrestricted fund balance, the college should consider a variety of factors, including:

(1) Predictability of its revenues and the volatility of its expenditures;

(2) Perceived exposure to significant one-time outlays;

(3) Availability of resources from other funds and potential needs upon general fund resources from other funds;

(4) The potential impact on the entity's bond ratings and the corresponding increased cost of borrowed funds;

The college shall maintain an unrestricted budgetary fund balance of no less than two months of regular general fund operating expenditures, plus amounts that are sufficient to provide stability and flexibility to address various factors as outlined, above. The college will measure its compliance with this policy as of June thirtieth year, as soon as practical after final year-end account information becomes available.

(B) Use of unrestricted fund reserve

It is the intent of the college to limit use of unrestricted fund reserves to address unanticipated, non-recurring needs that cannot be funded from other available sources. Subject to compliance with other college policies, the treasurer should take all steps necessary to authorize the use of reserves.

(C) Replenishment of unrestricted fund reserve

In instances where the unrestricted fund reserve balance falls below the established threshold, the college shall seek to replenish the reserve through yearend surpluses or other means.

(D) Implementation

The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Effective: 3/26/2017
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09

3354:1-20-13 Asset management policy.

(A) Purpose

Capital assets have a major impact on the college's finances, the comfort of stakeholders and the ability of the college to deliver services to students. This policy provides guidelines on ensuring new assets are properly evaluated prior to investment and existing assets are adequately maintained.

(B) Assessment of potential assets

When assessing potential investment in new assets (particularly capital assets), whether by acquisition or construction, an objective set of criteria shall be used to assess and evaluate those assets. At a minimum, management shall consider total investments costs as well as how annual operating and maintenance expenses may be affected.

(C) Asset management and replacement

Management should ensure adequate resources are allocated to maintain all assets and facilities at a level that protects capital investment and minimizes future maintenance and replacement costs. The college should maintain an inventory of its maintenance/replacement needs and may set aside monies from the general fund to satisfy those needs in order of importance.

(D) Implementation

The president or the president's designee is hereby directed to take all steps necessary and appropriate for the effective implementation of this policy.

Effective: 5/26/2017
Promulgated Under: 111.15
Statutory Authority: 3354.09
Rule Amplifies: 3354.09