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Payment of Bills

302.02 Payment of Bills

  1. Responsibility of Treasurer - The College Treasurer is responsible for the receipt of tax revenue, all certifications and claims of taxes, investments of College funds, providing a monthly financial report to the Board of Trustees, and for all disbursement of College Funds.
  2. Board Approval – All disbursements made by the Treasurer shall be submitted to the Board of Trustees for its approval.
  3. Time of Disbursements
    1. The Treasurer may, in his or her discretion, disburse funds for payment of the following items prior to receipt of Board approval:
      1. All expenditures under $2500
      2. Regular payroll checks and related withholding payments;
      3. Investments permitted by law;
      4. All utilities i.e., water, electric, gas, sewer, waste disposal, telephone, etc.;
      5. Approved travel advances;
      6. Travel reimbursements consistent with policy;
      7. Student aid and stipends provided pursuant to recognized student aid programs;
      8. Refunds to students, staff or retirees consistent with policy;
      9. Charges, expenses, or honoraria for personal incidental services to the College by third parties rendered consistently with prior authorization or contract;
      10. Bills eligible for a discount;
      11. bills subject to penalty if not paid before the next Board of Trustee’s meeting;
      12. Interfund transfer consistent with policy;
      13. Auxiliary fund transfers consistent with policy;
      14. Agency fund transfers consistent with policy; and
      15. Other urgent bills which in the discretion of the Treasurer must be paid to protect the College.
        All disbursement of funds authorized by this clause shall be submitted for Board ratification at the Board meeting immediately following the disbursements. Any payments made pursuant to clause (o) hereof shall be disclosed to the recipient as being subject to Board ratification and being conditional thereon.
    2. All other disbursements shall be made by the Treasurer only after obtaining prior approval from the Board.

Revised:

  • 12-17-2017