It is the policy of the Board of Trustees that a chart of accounts be established in accordance with the requirements of the Manual for Uniform Financial Reporting for Michigan Public Community Colleges for the accounting of all College funds.
The President shall be responsible for the proper accounting of all College funds. He/she shall ensure that expenditures are budgeted under and charged against those accounts which most accurately describe the purpose for which such monies are to be or have been spent.
M.C.L. 41.422 et seq., 141.421 et seq. A.C. Rule R340.351 et seq.