70-06 Expenditures for Promotional Activities and Auxiliary Income

Policy Description

Funds at a technical or community college derived wholly from athletic or other student contests, from the activities of student organizations and from the operations of auxiliary services such as canteens, vending, and bookstores may be retained by the college and expended only in accord with policies established by the respective college's area commission.

Funds derived from Auxiliary enterprises and undesignated gifts are to be used at the discretion of the President to pay or defray expenses of:

A. Official college functions, including faculty receptions and hosting of visitors and quests at the College;

B. Functions to which the College, or its representatives, are invited and which serve a useful purpose to the College;

C. Reasonable expenditures for which tax funds may not be used, but which in the judgment of the President, are important and necessary for the welfare of the College.

All expenditures will be fully documented and will be subject to the required audit and to all existing purchasing procedures.

The State Board for Technical and Comprehensive Education, in recognition of the necessity to promote the activities of a local college and to support the community development activities within local service areas, does hereby authorize an area commission to budget and expend up to 20% or $1,000, whichever is greater, of the prior year net income (including commissions) derived from operation of bookstores, canteens, and other auxiliary enterprises at the college for promotional purposes. When net income is less than $1,000, the total amount may be budgeted and expended to promote the activities of the college.

Funds budgeted for promotional purposes must be accounted for in the official financial records of the college and audited annually in keeping with the State Board policy.