TMCC Policy Manual: Fiscal and Business Affairs

Policies 1000-1999: Fiscal and Business Affairs


Policy 1001: Accounting Principles and Definitions

The accounting system is maintained and financial reports are presented on the accrual basis. A year-end financial statement is prepared by the Accounting Services Office and audited by independent auditors.

Responsible Office(s): Accounting Services

Procedure: The procedures for accounting transactions are located in the Accounting Services User Procedure Manual.

Updated: October 15, 2013

Policy 1002: Fiscal Year/Budget Year

The fiscal year for the College is July 1 through June 30. Note: Summer school is on a January 1 through December 31 fiscal year.

Responsible Office(s): Accounting Services

Procedure: N/A

Updated: August 1, 2013

Policy 1004: Bank and Investment Accounts

The College is not allowed to have bank or investment account(s) other than those specifically approved by the Board of Regents. College-related organizations, such as student clubs, operating departments, student association, etc. are prohibited from establishing individual bank or investment accounts.

Responsible Office(s): Accounting Services

Procedure: N/A

Updated: August 1, 2013

Policy 1006: Equipment Inventory

Inventorial equipment shall be defined as all non-expendable personal property having a unit cost of $5,000 or more and meeting the following criteria: (1) is complete in itself; and (2) is of a durable nature with a life expectancy of two years or more. This definition does not apply if equipment is leased, rented, or placed at a College facility for demonstration purposes.

Responsible Office(s): Auxiliary Services

Procedure: The procedures for equipment inventory are available on the Auxiliary Services website.

Updated: October 15, 2013

Policy 1007: Sensitive Equipment (Non-Inventory Equipment)

Non-inventory personal property items that are sensitive in nature must be separately tracked by the responsible department regardless of value. Sensitive property items are highly desirable and easily converted to unauthorized personal use. Non-inventory equipment is all items with a value between $500 and $4,999.99. A separate inventory list of sensitive equipment and non-inventory equipment must be maintained by each department.

Responsible Office(s): Auxiliary Services

Procedure: The procedures for equipment inventory are available on the Auxiliary Services website.

Updated: October 15, 2013

Policy 1008: Purchasing

The Business Center North (BCN) Purchasing Department administers all purchases of supplies, goods, equipment, services and construction.

Responsible Office(s): BCN Purchasing | Accounting Services

Procedure: The procedures for equipment inventory are available on the Auxiliary Services website.

Updated: October 15, 2013

Policy 1011: Independent Contractor

All persons who render personal services to the College of a contractual nature and not covered by employment contracts shall be considered independent contractors.

Responsible Office(s): Accounting Services | VPFA

Procedure: The procedures for hiring independent contractors are available through TMCC Accounting Services and the BCN General Purchasing Guidelines.

Updated: October 15, 2013

Policy 1013: Memberships, Dues and Licenses

Institutional memberships can be paid from state funds. The Accounting Services User Procedure Manual defines the process for these categories of expenditures.

Responsible Office(s): VPFA

Procedure: Refer to the Accounting Services website or contact the VPFA.

Updated: October 15, 2013

Policy 1014: Stipends, Fellowships, Grants-in-Aid and Other Non-Salary Payments

TMCC has opportunities for the use of stipends, fellowships and grants-in-aid.

Responsible Office(s): Human Resources

Procedure: Refer to the Accounting Services website or contact the VPFA.

Updated: October 15, 2013

Policy 1015: Indirect Cost Contributions

The College shall charge an indirect cost rate to appropriate self-support programs, including programs supported by grants and revenue contracts. Rates will be based on the federally approved indirect cost unless grants and contracts from outside agencies are based on guidelines established by the awarding agency.

Responsible Office(s): VPFA

Procedure: Available on the Budget and Planning Office's website.

Revision Approved: November 20, 2012 | Updated: October 15, 2013

Policy 1016: Loan of College Equipment

Loans of College-owned equipment or equipment in the care and custody of the College will be recorded on the Equipment Loan Agreement.

In accordance with the Board of Regents Handbook, Title 4, Chapter 1, Section 25, employees shall not use NSHE time, property, equipment, or other facility for personal or financial benefit. However, limited personal use is allowable if the use does not interfere with the performance of an employee’s duties, the cost and value related to the use is nominal, and the use does not create the appearance of impropriety or of NSHE endorsement. Personal use shall not interfere with official institutional use. Personal use of NSHE time, property, equipment, or other facility must be approved in advance by the employee’s supervisor.

Responsible Office(s): VPFA

Procedure: 

  • Loans, rentals, or individual use of College equipment for a non-College activity is not permitted, except with the written approval of the President.
  • Loans to other institutions of the Nevada System of Higher Education must be approved by the President.
  • Loan of federal equipment must have the prior written approval of the federal contracting officer. A copy of all such approvals will be attached to the departmental file copy of the Equipment Loan Agreement.
  • Loans exceeding 30 days will be reported to the Equipment Inventory Clerk on the Equipment Loan Agreement form, on the initial action and subsequent return of the equipment.
  • Loans for less than 30 days will also be recorded on the Equipment Loan Agreement form, which will be kept in the department. The borrower may be responsible for replacement or repair of the equipment.

Updated: August 1, 2013

Policy 1400: Travel

An employee’s travel, lasting over twenty four (24) hours, must be approved by the appropriate approving authority (vice president, dean, director, or designee) prior to any travel.

Travel rules and regulations are established by Budget and Planning in accordance with Board of Regents, State of Nevada and Federal Government rules, regulations, policies and best business practices.

Responsible Office(s): Budget

Procedure: Procedures are located on the Budget and Planning Office website.

Budgets

Policy 1701: State Appropriated Operating Budget

The College will prepare an operating budget each year for state appropriated accounts. Other funds may be included if they include state appropriated funds. Budgets will be prepared in accordance with processes developed by the NSHE and the TMCC Cabinet. The TMCC budget office will coordinate the production of the annual budget. 

Responsible Office(s): Budget and Planning

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: October 15, 2013

Policy 1702: Budget Transfers

Departments may request funds be transferred between objects using the Budget Transfer Request. Requests will be reviewed by the TMCC budget office to ensure they are in compliance with NSHE procedures and TMCC cabinet direction.

Responsible Office(s): Budget and Planning

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: October 15, 2013

Policy 1703: Self-Supporting Budgets

The College will prepare an operating budget each year for self-supporting accounts with anticipated expenditures of $25,000 or more. Budgets will be prepared in accordance with processes developed by the NSHE and the TMCC Budget and Planning Office. The TMCC Budget and Planning Office will coordinate the production of the self-supporting budgets.

Responsible Office(s): Budget and Planning

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: August 1, 2013

Policy 1744: Replacement of Budget Positions

Replacement of budgeted positions are managed at the College budget level as they are subject to external conditions including mandatory salary and fringe benefits savings and unfunded salary and benefit adjustments. They include the use of any salary and fringe benefits savings due to attrition from full-time positions (0.50 FTE and higher). Departments may request these savings be allocated to similar uses within the department.

Responsible Office(s): Budget and Planning

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: November 15, 2012

Policy 1750: Position Control

Each authorized position will be assigned a position control number. Prior to initiating the hiring process, a position number must be established.

Responsible Office(s): Budget and Planning

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: December 1, 2008

Policy 1799: Fund Balance and Reserves

General Policy
College reserves shall be adopted as part of the College’s annual budget plan. All expenditures drawn from reserve accounts shall require prior approval from the President, unless previously authorized for expenditure within the College’s annual plan.

Ancillary and Auxiliary (aka self-support) Fund Reserves
The College will maintain a reserve for each of its ancillary or auxiliary funds to provide for adequate cash flow, multi-year planning, and operation contingencies. The reserves will be 15 percent of each fund’s operating revenues unless a different level is necessary to sustain its operations. To ensure continuity of these programs, 50 percent of any excess funds after meeting the required reserve level shall be retained by the program and used as part of its succeeding year’s budget plan.

Capital Reserves (Capital Improvement Fee Account)
The College will maintain, as necessary, a local capital account to manage facilities needs that are not funded or are underfunded by the state.

Contingency Fund
The College will maintain an annual contingency fund equal to 3 percent of the operating budget revenues to cover revenue shortfalls, unplanned but necessary expenditures, or operating changes that occur outside of the planned annual budget. Any unused contingency fund shall be carried over and used as special funding sources for institution-wide initiatives as approved by the President.

Operating Reserves
The College will maintain an operating reserve to provide for such items as adequate cash flow, emergencies, budget contingencies, multi-year planning or capital commitments. The general fund operating reserves will be based on 15 percent of the College’s operating budgeted revenues.

Responsible Office(s): VPFA

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: November 15, 2012

Gifts, Grants and Fundraising

Policy 1800: Gifts to Truckee Meadows Community College

Solicitation of private foundations or potential donors must be coordinated through the Foundation. Donor restriction on gifts to Truckee Meadows Community College must be followed.

Responsible Office(s): TMCC Foundation

Procedure: Procedures are located on the TMCC Foundation Office website.

Updated: October 15, 2013

Policy 1850: Gifts to the Truckee Meadows Community College Foundation

The Truckee Meadows Community College Foundation Board of Trustees is responsible for the receipt of gifts to the TMCC Foundation. Gifts to the TMCC Foundation do not follow the same State rules that govern gifts to Truckee Meadows Community College, the institution. The TMCC Foundation, per Board of Regents handbook policies, may use the university purchasing and personnel services, as needed. Donor restriction on gifts to Truckee Meadows Community College Foundation must be followed.

Responsible Office(s): TMCC Foundation

Procedure: Procedures are located on the TMCC Foundation website.

Updated: October 15, 2013

Policy 1861: Grants General

The TMCC Grants Office is responsible for providing the technical support and knowledge necessary to optimize current utilization of grant funding, obtaining the additional external funding and resources necessary to carry out the College's strategic goals and ensuring complete fiscal and program accountability for all grant funded projects.

Responsible Office(s): Grants Office

Procedure: N/A

Updated: September 17, 2013

Policy 1862: Grant Application

All grant applications must be approved in advance by the appropriate Dean, Vice President and President. Upon approval of the President, the grant application will be submitted by the TMCC Grants Office.

Responsible Office(s): Grants Office

Procedure: Procedures are located on the Grants Office website.

Updated: October 21, 2013

Policy 1863: Grant Renewals, Reauthorizations and Revisions

Grant renewals, reauthorizations, and/or revisions (including both budget and program revisions) must be approved in advance by the President and processed by the TMCC Grants Office.

Responsible Office(s): Grants Office

Procedure: N/A

Updated: October 21, 2013

Policy 1864: Grant Awards

Grant awards will be received and acknowledged by the TMCC Grants Office.

Responsible Office(s): Grants Office

Procedure: N/A

Updated: October 15, 2013

Policy 1865: Grant-funded Program Requirements

Students who wish to participate in grant-funded programs must meet all of the requirements of the granting agency and Truckee Meadows Community College to be eligible to participate, including but not limited to submitting to background checks, drug testing and any other grant requirements.

Responsible Office(s): Grants Office

Procedure: Procedures are located on the Grants Office website.

Updated: October 15, 2013