COP 08-0102: Funds Derived from Auxiliary Enterprises

Purpose Statement

To establish procedures for use of funds derived from auxiliary services.

Guidelines

Funds derived from earnings realized from auxiliary enterprises may be expended for such purposes as are deemed by the President to be for the benefit of the College, and may include the following:

Procedures

1. Eligible Uses of Funds
   1. General operating funds which may include repair, maintenance and equipment purchases supporting auxiliary operations.
   2. Business Hospitality Funds for promotion and public relations as prescribed by rules of the State Board of Education. Such funds may be used to provide hospitality to business guests in the district and elsewhere, however, such hospitality expenses may not exceed the amount authorized for such contingency funds as prescribed by rules of the State Board of Education.
   3. President’s Discretionary Funds for expenses that may not be included in the operating funds of the College.
   4. Scholarships for employees, employees’ spouses, and employees’ dependents.
   5. For all other types of expenditures, a proposal must be presented in writing to the Vice President of Operations/Chief Financial Officer (CFO) for consideration. Various criteria for these proposals may from time to time be established to expedite this process.
2. Budget Development
   1. An annual budget is developed by the Director of Auxiliary Services and approved by the Vice President of Operation/CFO.
   2. Budget is provided to the District Board of Trustees for informational purposes only, as part of the Annual Budget and Operating Plans.
   3. Funds will be transferred to the appropriate fund at the beginning of the fiscal year. Unspent funds will be transferred back to Auxiliary Services at the end of the fiscal year. At the end of the fiscal year, remaining auxiliary funds may be transferred to the Florida SouthWestern State College Financing Corporation.