| Procedure Title | AITF (Academic Improvement Trust Fund) Process |
| Procedure Number | 03-0201 |
| Originating Department | Academic Affairs/VPAA |
| Board Policy | n/a |
| Florida Statute | n/a |
| Florida Administrative Code | n/a |
| Effective Date | 6/1/2010 |
| Date(s) Reviewed/Revised | 11/1/2010 |
Purpose Statement
The Florida Academic Improvement Trust Fund is a State matching fund for community colleges and administered by the Florida SouthWestern State College Foundation (Foundation).
Guidelines
The Foundation is responsible for maintenance, investment and administration of private contributions and State matching funds on behalf of Florida SouthWestern State College (College).
The District Board of Trustees of Florida SouthWestern State College is responsible for determining the uses for the proceeds of the Academic Improvement Trust Fund. Such use of the proceeds shall include, but not be limited to, expenditure of the funds for:
- Scientific and technical equipment.
- Scholarships, loans, or need-based grants.
- Other activities that will benefit future students as well as students currently enrolled at the community college, will improve the quality of education, or will enhance economic development in the community.
Procedures
Each March, the Foundation, will provide a list of available proceeds from the AITF fund to the Vice President, Academic Affairs. The Vice President of Development in conjunction with the Vice President, Academic Affairs will work through the Campus Presidents to determine the Colleges requested uses for the annual proceeds. The draft plan is presented to the Senior Vice President for approval in May. The final plan is presented to the College District Board of Trustees at the June Meeting for final approval and subsequent submission to the State Board of Education.