Increases/reductions in the total campus Student Development Operating Fund Budget will be subject to the same process of review and certification as the original budget (see Board Policies V.05 and V.05.02 ) Copies of all budget changes must be sent to the College Budget Office to be recorded and become effective. C ONTINGENCY F UND The purpose of the Contingency Fund shall be to provide a source of emergency funds to underwrite unforeseen budget overruns and approved charges within budgetary allocations from prior periods that were not paid due to delayed invoicing. The Contingency Fund shall be maintained at a level of between three (3) and five (5) percent of the student development budget and shall be replenished from the Student Development Operating Fund whenever the balance falls below the minimum maintenance level. Contingency Fund monies do not transfer to the Permanent Fund at the end of the budget period but are continued and maintained within approved maintenance levels. Use of Contingency Fund monies must be approved by the Dean of Students for Student Engagement, the applicable Executive Director(s) of Business & Administration, the Regional Campus President and the College Controller. P ERMANENT F UND The purpose of the Permanent Fund shall be restricted in use to acquisitions of facilities, goods and/or services that benefit successive student communities. Fund sources include year-end Operating Fund balances, twenty-five percent (25%) of net revenue received from bookstore operations, income earned on investment of Permanent Fund balances, and unexpended balances from Special Project Restricted Funds. Allocations shall be made from the Permanent Fund for projects certified to qualify for Permanent Fund uses. Permanent Fund projects and the allocation of funds must be recommended by the Student Government, endorsed by the Dean of Students for Student Engagement, certified for adequacy of funds by the applicable campus Executive Director of Business & Administration and approved by the Regional Campus President. S PECIAL P ROJECT F UND In order to qualify to carry over funds through a Special Project Fund, a special purpose project must be sponsored/recommended by a representative committee; be defined by a project plan which includes a statement of purpose, need, duration, and source of funds; be recommended by the Dean of Students for Student Engagement; and certified by the Regional Campus President. Special projects must be submitted to the Regional Campus President for approval no later than April 30 th of each year. After approval, funds may be assigned to a Special Project Fund.
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