Chapter 3357:15-16 Budget

3357:15-16-01 Basic accounting standards.

The objective of Stark state college is to provide services that fulfill societal needs without regard for financial gain. Since service, in which resources are consumed, is the objective of the college, the accounting and reporting process must address itself to accounting for resources received and used. In the absence of the profit element as a control device, funding sources exercise control by stipulating the purpose for which resources may be used. The college assumes a stewardship role to assure that all funds are utilized in accordance with the wishes of the funding source. The accounting system must provide this information and also provide management with the necessary decision making tools to maximize the resources available to the college.

Replaces: 3357:15-16-01

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-02 Budget preparation and control.

The vice president for business and finance with the assistance of the director of budget is responsible for the coordination of procedures for the preparation of the annual budget. All members of the college are encouraged to participate in the development of departmental budgets. The department head is to work with the members of the department, the next level administrator, provost, or the vice president for the area.

Replaces: 3357:15-16-02

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-03 Purchasing procedures.

The vice president for business and finance, provost, and vice president's designated representative, or purchasing agent, are the only eligible individuals to enter into purchasing agreements for Stark state college. The purchasing agent is authorized to enter into purchasing agreements not to exceed five thousand dollars. No commitments except those authorized and negotiated by the vice president for business and finance, provost or vice president's designated representative or purchasing agent will be considered the legal obligation of the college.

Replaces: 3357:15-16-03

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-04 ACCOUNTANT OF RESTRICTED FUNDS.

The college receives funds from various sources who place restrictions on the timing and use of those funds. Recordkeeping and reporting procedures must be established to insure that all such funds are utilized in compliance with the funding source requirements.

Effective: 7/6/2018
Promulgated Under: 111.15
Statutory Authority: 3357.09
Rule Amplifies: 3357.09

3357:15-16-05 Financial reports.

The vice president for business and finance will file all financial reports for the college as required by the board of trustees. auditor of state, or other agencies as required by law or condition of contracts.

Replaces: 3357:15-16-05

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-06 Financial planning.

(A) Operating budget: The vice president for business and finance must develop the operating budget to conform to the institutional education plan. All income and expenditures must be reviewed in terms of satisfying the stated goals and objectives as prescribed by the board of trustees and the president. The operating budget must take the following costs into consideration: personnel, supplies, travel, equipment, and all other costs necessary to carry out the mission of the college.

(B) Capital budget: This plan will be developed by the vice president for business and finance to detail how income and expenses will be acquired and utilized to support the physical development plan of the college. The capital budget should take into consideration a review of facilities and capital equipment needs.

(C) Cash flow: The vice President for business and finance will prepare a monthly cash flow estimate. Investment of surplus funds in securities that meet the approval of the auditor of State is encouraged. The vice president for business and finance will seek bids from financial institutions with sound reputations. All financial institutions must hypothecate assets to receive awards as required by the auditor of state.

Replaces: 3357:15-16-06

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-07 Investments and cash management.

(A) Purpose: to provide a framework for the prudent management of all public funds and to invest public funds in a manner that will provide the highest investment return with the maximum security, safety and preservation of principal while meeting the daily cash flow demands of the college. in accordance with all applicable statutes governing the investment of public funds.

(B) Authority: The authority to conduct the purchase and sale of investments is limited to the treasurer who may delegate such responsibility with appropriate oversight to the comptroller and budget director. The treasurer will adhere to this stated policy, sections 3357.10 and 3345.05 of the Ohio Revised Code, and all other applicable provisions of the Ohio Revised Code.

(C) Scope: The scope of this investment policy applies to all financial assets of the college. including state and federal funds held by it. The treasurer and/or staff will routinely monitor the contents of the college's investment portfolio, the available markets, and relative value of competing investments, and will adjust the portfolio accordingly. Cash will be consolidated with reserve balances from all funds to maximize earnings and to increase efficiencies with regard to investment pricing safekeeping and administration. This policy is intended to be consistent with rule 3357:15-16-06 of the administrative code financial Planning. Cash Flow, of the Policies and Procedures Manual.

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15

3357:15-16-08 Reprographic procedure.

The reprographics department provides centralized copy services to the college whereby all large copy jobs are completed in one location to provide cost efficiency.

Replaces: 3357:15-16-08

Effective: 7/14/2016
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 2/23/15

3357:15-16-09 College discretionary fund.

The board of trustees established the college discretionary fund on June 20, 1984 (page 1015) to be used at the president's discretion for supporting activities which serve to promote the interest of Stark state college. The fund may be used for the following suggested purposes or any purpose which supports the interest of the college. Some examples are:

(A) To receive gifts or donations from individuals, agencies, firms, or other groups.

(B) To support functions of the board of trustees.

(C) To support the activities of the president in fostering the interest of Stark state college excluding direct political contributions.

(D) To support approved faculty and staff functions.

(E) To support approved faculty and staff travel, entertainment, and training.

Replaces: 3357:15-16-08

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-10 College food policy.

(A) This policy is to provide guidance for the expenditure of general college funds to provide food at college functions. Food as defined in this policy includes coffee, non-alcoholic refreshments and food of any kind. General college funds as defined in this policy include all accounts that derive their funds from the college including all grant accounts. The president's discretionary fund and agency accounts, for which the college acts only as fiscal agent, are not considered general college funds.

(B) Generally, food is regarded as a personal expense of employees for which general college funds may not be expended. However, there are certain college events that promote the general good, public purpose and furtherance of the mission of the college for which general college funds can be expended for food. All purchases of food must be customary, reasonable and appropriate for the event. All purchases of food must receive prior approval by the vice president of the requesting department.

Replaces: 3357:15-16-09

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-11 Disposal of surplus equipment.

Periodically, the college has equipment that is no longer useful. Equipment is considered surplus once it has surpassed its useful life. This occurs when equipment is broken, repair costs exceed fifty percent of the value of the item, or the equipment is obsolete.

Replaces: 3357:15-16-10

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15
Prior Effective Dates: 10/9/09

3357:15-16-12 Electronic device recovery.

(A) The intent of the policy is to provide a method of returning electronic devices turned into the college lost and found by discovering the owner's identity, if this is not readily apparent, and disposing of these items after a reasonable amount of time.

(B) Philosophy: environmental impact: According to the U.S. environmental protection agency, over 4.5 billion pounds of electronic waste was discarded in the United States alone in 2007. As much as eighty two percent of this was incinerated or dumped in landfills and accounted for between two perfcent and five percent of the municipal solid waste stream. Only about eighteen percent of the total was recycled.

(C) According to the nonprofit group world computer exchange, "an average computer can contain up to 1,000 toxins, including lead, cadmium, mercury, and other heavy metals that are known to damage the nervous system, kidneys, and brain, and to cause cancer and birth defects. It is estimated that up to 40 percent of heavy metals in landfills come from e-waste." Stark state college is joining in a national movement among higher education institutions to lessen their impact on the environment.

(D) By donating unclaimed electronic devices to campus organizations, the electronic device recovery policy will extend the useful life of the products and keep them out of the waste stream.

Effective: 2/23/2015
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15

3357:15-16-13 Alcohol policy.

The use of alcoholic beverages is prohibited on college premises unless an exception is requested and written approval is granted from the provost or vice president of the requesting division and the vice president for business and finance or designee. There should be a primary purpose for the gathering other than the availability of alcohol. Alcohol should not be used as an inducement to participate in a campus event. All consumption, possession and/or distribution of alcoholic beverages will be consistent with the laws and regulations of the state of Ohio.

Effective: 7/14/2016
Promulgated Under: 111.15
Statutory Authority: 3357:13
Rule Amplifies: 3357:13
Prior Effective Dates: 2/23/15

3357:15-16-14 Lost and found property.

This policy is to provide procedures for the accountability and safekeeping of currency and tangible personal property lost or abandoned on the property owned, leased, operated by, or under the control of the college. Stark state college shall maintain a lost and found service at the campus security office for all faculty, staff, students, and guests to the campus. The campus security office will process and secure all the lost and found articles and make every reasonable attempt to return the items to the rightful owner. Unclaimed items may be destroyed or converted to college use or donated to a non-profit organization in accordance with Stark state college procedure.

Effective: 7/14/2016
Promulgated Under: 111.15
Statutory Authority: 3357:15
Rule Amplifies: 3357:15