3450 Safekeeping of Funds

Policy Type: 
Operations

The Board of Trustees recognizes that prudent trusteeship of the resources of this College dictate that employees responsible for the safekeeping of College monies be bonded, or the College appropriately insured, against theft, errors, and omissions of its officers and employees.

The College shall be indemnified against loss of money by bonding or insuring of employee holding positions connected with the administration of College funds.

All other employees handling money shall be covered under College insurance.

The College administration shall annually review, with the College insurance carrier, to determine appropriate levels of insurance coverage.

Adopted Date: 
Monday, February 20, 1995
Revised Date: 
Thursday, June 25, 2015
Private: 
Public
Status: 
Board Approved