LONE STAR COLLEGE SYSTEM DISTRICT
BOARD POLICY MANUAL
Fourth Edition
Section III - Business Services
Table of Contents
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A. APPROPRIATIONS AND REVENUE SERVICES
1. Fiscal Philosophy
A.1.01 General Fiscal Philosophy
2. Resource Development
A.2.01 Role and Purpose
A.2.02 Authorization: External Funding
A.2.03 Grant Application
A.2.04 Authorized Signatures
3. Gifts
A.3.01 Gifts from Private Sources
A.3.02 Philanthropic Gift
4. Indirect Costs
A.4.01 Definition
A.4.02 Indirect Cost Rate
A.4.03 Charging Indirect Costs on Grants and Contracts
5. Operating Reserves
A.5.01 Operating Fund Balance
A.5.02 College Fund Balance
B. BUDGETING, ACCOUNTING, AND REPORTING
1. Annual Operating Budget
B.1.01 Annual Budget
B.1.02 Budget Planning
B.1.03 Budget Schedule
B.1.04 Budget Adoption
B.1.05 Budget Amendment
B.1.06 Budget Availability
B.1.07 Public Hearing
2. Financial Reports and Statement
B.2.01 Finance Reports and Statements
3. Payroll Procedures
B.3.01 Payroll Procedures
4. Salary Deductions and Reductions
B.4.01 Salary Deductions and Reductions
C. CASH MANAGEMENT
1. Debt Management
C.1.01 Definitions
C.1.02 Limit of Variable Debt
C.1.03 Use of Variable Rate Debt
C.1.04 Fixed Debt Conversion
C.1.05 Early Retirement with Cost Savings
2. Investment Management
C.2.01Investment Management
C.2.02 Purpose
C.2.03 Strategy
C.2.04 General Fund
C.2.05 Restricted Fund
C.2.06 Capital Projects
C.2.07 Debt Service
C.2.08 Trust and Agency Fund
C.2.09 Prudent Person Rule
C.2.10 Downgrades
C.2.11 Delegation of Responsibility
C.2.12 Investment Officers
C.2.13 Capability of Investment Officers
C.2.14 Training
C.2.15 Ethics and Disclosure of Conflicts of Interest
C.2.16 Authorized Financial Dealers and Institutions
C.2.17 Annual Review
C.2.18 Authorized Investments
C.2.19 Collateralization
C.2.20 Authorized Collateral
C.2.21 Independent Third Party
C.2.22 Deliviery versus Payment
C.2.23 Competitive Bidding
C.2.24 Diversification
C.2.25 Monthly Reporting
C.2.26 Quarterly Reporting
C.2.27 Market Values
C.2.28 Compliance Audit
C.2.29 Annual Policy Review and Adoption
3. Depository of Funds
C.3.01 Collateralization of Funds
C.3.02 Optional Services
D. PURCHASING AND ACQUISITIONS
1. Purchasing Overview
D.1.01 Legal Responsibility of System for Debts
D.1.02 Forms of Purchase
D.1.03 Responsibilities of LSCS Employees
D.1.04 Conflict of Interest
D.1.05 Vendor Relations
D.1.06 Purchase Approval
D.1.07 Purchasing Procedures
2. Contracting
D.2.01 Definitions
D.2.02 Board Approval
D.2.03 Educational Agreements
D.2.04Delegation of Authority
3. Purchasing and Professional Services
D.3.01 Authority
D.3.02 Definition
D.3.03 Scope of Service
D.3.04 Term of Service
4. Purchasing of Goods and Services
D.4.01 Purchasing Authority
D.4.02 Policy Applicability
D.4.03 Purchasing Objectives
D.4.04 Administrative Requirements
D.4.05 Departure from Policy
D.4.06 Contract Award Criteria
D.4.07 Long-Term Contracts
D.4.08 Bidding Requirements
D.4.09 Surety Bonds
D.4.10 Personal Purchases
D.4.11 Further Guidance
5. Petty Cash Purchases
D.5.01 Petty Cash Purchases
E. FACILITIES
1. Naming of Facilities
E.1.01 Policy for Naming of Facilities
2. Facilities Maintenance
E.2.01 Repairs and Replacements of Facilities
E.2.02 Buildings and Grounds Maintenance
3. Use of Facilities
E.3.01Facilities Renovation
F. FIXED ASSETS
1. Fixed Asset Objectives
F.1.01 Fixed Asset Management System
F.1.02 Authorized Fixed Asset Officer
2. Use of System-Owned Property (Other than Facilities)
F.2.01 Use of System-owned Property other than Facilities
3. Retirement, Sale, or Disposal of Property
F.3.01 Retirement, Sale, or Disposal of Property
4. Maintenance of Vehicles
F.4.01 Maintenance of Vehicles
G. AUXILIARY ENTERPRISES
G.1.01 Provision of Services
G.1.02 Sale of Services
H. AUDITING
1. External Audits
H.1.01 Independent Auditor
H.1.02 Scope of Services
H.1.03 Term of Service
H.1.04 Annual Audit Report Filing
2. Internal Audits
H.2.01 Internal Auditor
H.2.02 Mission
H.2.03 Purpose, Authority and Responsibility
3. Fraud
H.3.01 Fraud Prevention
H.3.02 Fraud Definition
H.3.03 Investigation Responsibilities
H.3.04 Non-Retaliation
H.3.05 Confidentiality