SUNY Orange Policy Manual Policy Number Policy Title BP4.1 Fiscal Year The fiscal year of Orange County Community College will be September 1 through August 31, in accordance with New York State Education Law � 6304 (5-a). - 2 SUNY Orange Policy Manual Policy Number Policy Title BP4.2 Financial Statements and Accounting Standards The College maintains records and accounts in accordance with national accounting standards for budgeting and financial reporting. College records and accounts are audited annually by an independent certified public accounting firm. Financial statements will be prepared on a monthly basis and presented to the Board of Trustees and the appropriate state and county agencies. The College will file annual financial reports with the State Comptroller. - 3 SUNY Orange Policy Manual Policy Number Policy Title BP4.3 Insurance/Bonding The College shall secure and maintain adequate insurance coverage by reputable carriers. Policies shall provide for fire, theft, comprehensive, general liability and other such coverage as the President and Vice President for Administration may deem desirable. The College shall carry liability coverage for members of the Board and the College staff. The President shall determine which employees should be properly bonded. The Board of Trustees directs the President to develop such procedures as to fairly implement this policy. - 4 SUNY Orange Policy Manual Policy Number Policy Title BP4.4 Contracting Authority The Board of Trustees is authorized by Education Law � 6306 (7) to enter into contracts and agreements it deems necessary and appropriate for the effective operation of the College. The size and complexity of the College is such that individual review by the Board of Trustees of every agreement is neither feasible nor in the best interest of the College. Therefore, certain delegations of contracting authority are appropriate within the following specified guidelines for the timely, efficient administration of the College. The President is delegated contracting authority and hereby expressly authorized and empowered to contract in the name of the College as follows: � Personnel: All employment contracts shall be signed by the President. The President shall approve the employment of unclassified personnel. Personnel thus approved shall be submitted to the Board for ratification at the earliest practical time. � Capital Improvement Change Orders: The Vice President for Administration may approve a capital improvement change order. � Service: The President or his/her designee shall have authority to execute service agreements for the College. � Instructional Agreements: The College President or his/her designee is expressly authorized to sign all instructional agreements on behalf of the College. Upon the review and approval of the Board of the terms of any agreement, the College President is authorized to sign all cooperative, inter-institutional and interagency agreements on behalf of the College. Unless the authorizing action of the Board specifically provides otherwise, any contract approved by the Board shall be executed, on behalf of the College, by either the Board Chairman or the President (or his/her designee). The President is hereby designated as custodian of all contracts of the College. He/she shall maintain on file in either the President's office or the Vice President for Administration�s office one (1) original of every contract to which the College is a party. - 5 SUNY Orange Policy Manual Policy Number Policy Title BP4.5 Traffic Code The operator of any vehicle on the College campus shall comply with the legal instructions of any campus security officer and all traffic signs in accordance with the provision of these regulations. The College shall be responsible for ensuring that the necessary signs are erected and maintained to carry out the intent of these regulations. The College shall ensure that information about operating a motor vehicle on College campus is given out at every student orientation and registration. Each student shall have an opportunity to obtain a copy of the Traffic Code. A copy of the Traffic Code shall be included in all Student Handbooks. Failure to obtain such a copy is not, however, an excuse for violation of the Traffic Code. All vehicles to be operated on campus should be properly registered and display a parking decal from the rear view mirror. Students, faculty, and staff are expected to register their vehicles. The parking decal is good for one academic year or fraction thereof, beginning in the fall semester. Parking decals are obtained normally during registration, but may be secured from the Student Activities Office at other times. - 6 SUNY Orange Policy Manual Policy Number Policy Title BP4.6 Investment Pursuant to applicable SUNY regulations, the College�s investment objective is to realize the highest earnings possible on all invested operating fund cash. Operating fund cash may be deposited at interest in any commercial bank in New York State in the form of certificates of deposit or such other forms of time deposits as may be approved for county governments. Any operating fund cash in excess of current needs will be held in investments as authorized by SUNY regulations. Investments deposited shall be secured as provided in G.A.S.B. 34. - 7 SUNY Orange Policy Manual Policy Number Policy Title BP4.7 Petty Cash The Board of Trustees authorizes the Comptroller of the College to establish and maintain petty cash funds, in accordance with applicable SUNY regulations. Petty cash may be expended for College purposes for itemized and verified or certified bills for materials or services furnished to the College when payment of cash to the vendor is appropriate. The Comptroller shall have the authority to direct reimbursements of such petty cash funds. The Board of Trustees directs the President to develop such procedures as to fairly implement this policy. - 8 SUNY Orange Policy Manual Policy Number Policy Title BP4.8 Purchasing It is the College�s policy to obtain appropriate supplies, equipment, and services at the best value and in a timely manner, while maintaining fairness to vendors and abiding by applicable laws and regulations. The Board of Trustees directs the President to develop such procedures as to fairly implement this policy. - 9 SUNY Orange Policy Manual Policy Number Policy Title BP4.9 Treasurer The Board of Trustless designates the Vice President for Administration as treasurer of the College with full power and authority to carry out the duties assigned or assignable to a treasurer under Article 126 Education Law, including Education Law Section 6304, as amended. No person may make a purchase or a commitment for services involving the use of College funds or resources unless he/she is authorized to do so. - 10 SUNY Orange Policy Manual Policy Number Policy Title BP4.10 Campus Mailings Only items pertaining to College business may be sent through the campus mail system. Personal items should not be sent or received through the campus mail system. Employees should inform individual and entities to whom they send and receive mail of the College�s policy prohibiting sending items not related to College business through the campus mail system. Items sent through the campus mail must either be individually addressed, or bundled and labeled by department. Items sent by off-campus groups or businesses must be sent to the campus through the U.S. Postal Service or another authorized courier service. - 11 SUNY Orange Policy Manual Policy Number Policy Title BP4.11 College Communication Systems The College electronic communications system, telephone system, and other College communication systems are to be used by employees for College business only. - 12 SUNY Orange Policy Manual Policy Number Policy Title BP4.12 Debt Collection � Students Students with an outstanding debt may not avail themselves of the following until the debt is cleared through the Business Office: � Registration for classes � Release for grades or transcripts � Release of diploma � Employment at Orange County Community College - 13