C OLLECTION AND D ISBURSEMENT Upon registration, every full-time and part-time credit student shall be required to pay a “College Fee.” The amount of the College Fee shall be approved by the Board of Trustees. Payment of the College Fee shall be a condition of registration. All non-credit students are exempt from payment of the College Fee. The College Fee will be assessed for all academic terms, including summer terms. In addition, the following additional revenues will be allocated to the student development fund each year: twenty-five percent (25%) of net revenues/commissions received by the College from bookstore operations and all revenues generated by or from student development activities. The collection, appropriation and disbursement of student development funds shall comply in all respects with the College’s established operating procedures and applicable fiscal regulations. Cash receipts and revenues from student development activities shall be delivered to the office of the campus’ Executive Director of Business & Administration as soon as practicable, but no later than twenty-four (24) hours after collection. The Executive Director shall be responsible for determining the accounts to be credited. Unexpended year-end balances except for contingency and championship funds shall be deposited in a Permanent Fund. Student development funds shall be administered as a restricted Campus fund comprised of five (5) sections as follows:
1. Operating Fund 2. Permanent Fund 3. Special Projects Fund 4. Contingency Fund 5. Championship Expense Fund
The OPERATING FUND shall serve as the current fund of the student development program; the PERMANENT FUND as the depository of unused fund balances and the source of money for unusual expenditures which benefit students; the SPECIAL PROJECTS FUND as a mechanism to carry over funds for special purpose current projects; the CONTINGENCY FUND as a means of underwriting unforeseen and unavoidable budget overruns; and the CHAMPIONSHIP EXPENSE FUND to defray the expenses of College intercollegiate athletic teams involved in championship playoff games. O PERATING F UND The purpose of the Operating Fund shall be to receive the College Fee and other revenues as budgeted, to record expenditures and to serve as a current fund. Budget Preparation:
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