CAMPUS DELAYED WEDNESDAY 1/22/25 OPEN 10AM
Due to severe weather, all classes, activities, clinicals, and events are delayed until 10AM 1/22/2025. This includes in-person, online/virtual and hybrid classes, clinicals, events, meetings and college offices.
-MORE INFO-
lakeland

POLICIES AND PROCEDURES

Policies
 
Policy Title: Guidelines for Financial Reserves
Policy Number: 3354:2-10-13
Originally Approved Date:02/07/02
Revised Date(s):
Related Procedure:
Approved By:Board of Trustees
Printable PDF:

 

 

The following guidelines are established for undesignated reserves within Board controlled unrestricted funds for the purpose of providing fiscal stability to the College.

  1. Educational and General (Current Operating) Fund
    The undesignated reserve within this fund balance should be greater than or equal to ten percent of this fund's total annual expenditures and transfers.
  2. Auxiliary Fund
    The undesignated reserve within this fund balance should be greater than or equal to five percent of this fund's annual revenues.
  3. Renewals and Replacements (Unrestricted) Plant Fund
    The undesignated reserve within this fund balance should be greater than or equal to two percent of Investment in Plant. Investment in Plant means land improvements, buildings, and building improvements.
Staging Enabled