Policies & Procedures Manual

264

Policy No: 605 Policy Contact: Vice President for Business Operations Policy Title: FINANCIAL PROCEDURES REQUIRED FOR ALL COLLEGE SPONSORED ACTIVITIES Any activity sponsored by East central Community College that generates income and/or expenses must adhere to sound financial procedures that can be audited. The business office will handle all such financial matters. The procedures required include but will not be limited to the following: 1. East Central Community College personnel must handle all funds for admission to events and other fees received. Admission fees must be documented with sequentially numbered tickets. Other fees or income must be supported by appropriate accounting documentation. All income must be submitted in full to the business office upon collection. 2. All payments required for an activity shall be made by College checks following proper business office procedures. College personnel responsible for the activity must make all check requests using the established procedures of the College. Requests for checks to individuals who provided personal services for any activity must include names, addresses, and social security numbers of the individuals.

3. No cash payments shall be made to any persons or for supplies, materials, or for any other costs.

4. Checks will be mailed on or before the Friday following the activity provided that a period of 48 hours has been provided for processing.

(Reviewed 5/17/16)