Rule 3358:5-11-07 | Disbursement policy.
(A) Section 3354.06 of the Revised Code requires the board of trustees to appoint a treasurer, that is not a member of the board, and thereby gives authority to the treasurer to disburse all funds on behalf of the institution.
(B) The college practices good stewardship of funds and fosters strong vendor relationships by ensuring timely payments. To facilitate this, the treasurer is authorized to disburse funds without requiring board approval for each transaction.
(C) The treasurer shall disburse funds for the payment of financial obligations authorized by an approved budget and/or board appropriation. Approval of payments are managed within the business office in conjunction with budget managers and the treasurer's oversight.
Last updated June 16, 2025 at 8:19 AM
Supplemental Information
Amplifies: 3358.
Prior Effective Dates: 1/28/1978, 7/1/1998, 3/18/2015, 10/23/2015, 11/15/2022