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).

Fiscal Year

Orange County Community College maintains records and accounts in accordance with national accounting standards for budgeting and financial reporting. College records and accounts will be 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.

Amended: May 11, 2022

Financial Statements and Accounting Standards

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 that is required by applicable laws or regulations or that the President and Vice President for  Administration and Finance may deem desirable. The College shall carry liability coverage for members of the Board and the College staff and employees. The President shall determine which employees should be  properly bonded.

The Board of Trustees directs the President to develop such procedures to fairly implement this policy.

Amended: May 11, 2022

Insurance/Bonding

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.

The Board of Trustees delegates contracting authority to the President for any contract with a total value up to and
including $1 million. Any potential contract with a total value of more than $1 million must be reviewed and
approved by the Board of Trustees’ Audit and Finance Committee. The President is hereby expressly authorized
and empowered to enter into contracts on behalf of the College. To expedite efficient operations of the College,
the President may also designate additional administrators or staff members to enter into and execute
contracts. The Board requires that all contracts successfully pass through the College's established review processes prior to signing.

The President is also authorized to approve applications for, and acceptance of, grant awards.

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Amended: May 11, 2022

Authority for Contracts and Grants

The operator of any vehicle on the College campuses shall comply with the instructions of any campus security
officer, all traffic signs in accordance with the provision of this policy, and all applicable vehicle and traffic laws
and regulations. The College shall be responsible for ensuring that the necessary signs are erected and maintained to carry out the intent of this policy.

The College shall ensure that information about operating a motor vehicle on the College’s campuses is posted to
the College website so that it is accessible to every new and continuing student. A copy of this Board Policy shall
be included in the Student Handbook. Failure to be aware of campus traffic regulations is not, however, an excuse
for violating local traffic laws and regulations

All vehicles to be operated on campus, including vehicles driven by students, faculty and staff, should be properly
state registered and display a College-issued parking decal from the rear-view mirror. The parking decal is good
for one academic year, beginning in the fall semester. Parking decals may be obtained normally during student
registration, by contacting the Safety and Security Office during business hours.

Amended: May 11, 2022

Traffic Code

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 in any commercial bank in New York State in the form of certificates of
deposit or such other forms of time deposits approved by 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.

Amended: May 11, 2022

Investment

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.

Petty Cash

Orange County Community College is obligated to procure commodities and services in accordance with Article 5-A of the New York State General Municipal Law. This policy and associated procedures set forth the
procurement requirements for Orange County Community College to ensure full compliance with the law.

Administrative responsibility for adherence to the College’s procurement policy rests with the College’s
Purchasing Department. This department is charged with ensuring that the College complies with New York State
General Municipal Law (GML), which governs the purchases of goods and services with public funds. The laws are designed to ensure the prudent and economical use of public monies as well as to protect against favoritism, improvidence, extravagance, fraud and corruption. New York State General Municipal Law further provides that colleges must adopt their own policies and procedures for procurement of goods and services that are not required by law to be competitively bid, such as professional services and insurance coverage.

The College can use the contracts of other government entities or cooperatives, thereby saving the costs
associated with preparing and advertising its own bids, while ensuring the prudent and economical use of public
monies.

All employees of the College are required to order materials, equipment and services through the Purchasing Department within the procurement guideline limits. Payment for unauthorized purchases or services may become the sole responsibility of the employee placing the order.

In the event of any material conflict between this policy and New York State General Municipal Law, GML shall
control.

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Amended: May 11, 2022

Procurement

The Board of Trustees designates the Vice President for Administration and Finance 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 authorized to do so.

Amended: May 11, 2022

Treasurer

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 each College 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.

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Amended: May 11, 2022

Campus Mailings

The College electronic communications system, telephone system, and other College communication systems are to be used by employees for College business only.

College Communication System

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 of diploma
• Employment at Orange County Community College

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Amended: May 11, 2022

Debt Collection – Students

Orange County Community College will select products  rated and labeled under the ENERGY STAR program when purchasing new energy-using products or replacing existing equipment. The College is committed to complying with New York State Executive Order 88  (issued Dec. 28, 2012 and superseding former Executive 
Order 111) which mandates that state agencies purchase such products when installing new equipment or replacing old equipment. 

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy. 

Adopted: March 18, 2010 
Amended: May 11, 2022 
Amended: Dec. 14, 2022

Energy-Efficient Purchasing Standards

The College will maintain appropriate internal controls to ensure that funds are spent efficiently by conducting a
thorough, deliberate, and independent audit of claims before payments are authorized. An effective audit of claims helps prevent unauthorized, improper or fraudulent claims from being paid.

The Business Office is responsible for adhering to audit of claims procedures. This office is responsible for
assigning the audit of claims to a College employee who is independent of the purchasing and disbursement
functions. The College will provide the selected person with written procedures, which outline how to effectively
complete the audit of claims and to document the outcome of the audit of claims.

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Adopted: May 11, 2022

Audit of Claims

Orange County Community College will provide eligible employees with a credit card to purchase job-related
goods and materials and/or use for authorized College business travel expenses.

The Business Office is responsible for adhering to the College’s credit card policy. This Office is responsible for
ensuring that cardholders comply with the policy and related procedures. Procedures address the specific
circumstances under which credit cards may be used, including those employees authorized to use them, prior
approvals needed, dollar limits, the types of expenditures for which they may be used and the documentation that
must be presented to support the claim submitted for audit.

Cardholders must abide by all college policies and procedures. Cardholders will be responsible for reimbursing the College for any charges incurred as a result of misuse, loss or fraud.

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Adopted: May 11, 2022

Credit Card Use

The College’s Office of Student Accounts is dedicated to assisting students with their financial account, including
the billing of tuition and fees. The Office of Student Accounts is also responsible for reconciling payments,
assisting with financial aid, issuing refunds and coordinating the tuition payment plan with a third-party provider.

Tuition payment deadlines for each semester are posted on the College’s Student Accounts
website and conveyed directly to the students through email, phone calls, and/or
other means of communication. Payment arrangements must be in place by the posted deadlines or students will
be dropped from their upcoming courses.

There are four payment arrangement options:

1. Complete Financial Aid requirements.
2. Enroll in a Payment Plan.
3. Pay in full (cash, check, money order, VISA, Mastercard, or Discover).
4. Agree to an approved third-party sponsor agreement.

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Adopted: May 11, 2022

Student Billing and Payment

The College’s Business Office engages in electronic banking in accordance with all applicable laws and
regulations, including General Municipal law Section 5-a, which authorizes the use of electronic or wire transfers,
and in conformity with the guidelines established by this policy.

Electronic banking activities may be used for, but not limited to, the following:

• Online banking services (i.e. reviewing account balances or banking activity)
• Check fraud prevention services (Positive Pay)
• Pre-authorized debit payments
• Automated Clearing House (ACH) vendor payments
• Electronic Funds Transfer (EFT) or wire transfers

The Business Office is responsible for adhering to this online banking policy.. The Business Office is responsible
for implementing adequate internal controls, including but not limited to segregation of duties, proper
authorization, and adequate supporting documentation, for each electronic banking method utilized and
complying with those procedures developed in order to implement this policy.

The Board of Trustees directs the President to develop such procedures as to fairly implement this policy.

Amended: May 11, 2022

Online Banking