Auxiliary Reserve Fund

I. Policy Title: Auxiliary Reserve Fund

II. Who does this policy affect?

Students, staff, administrators, and the Board of Trustees

III. Purpose

The purpose of this fund shall be to reserve and expand monies to enhance the Auxiliary operations of the College.

IV. Policy Statement

The Henry Ford College Auxiliary Reserve Fund shall consist of the excess of revenues over expenditures from the auxiliary services activities, including the College Store, Food Services, and Childcare Operations.

Proposed uses for the funds shall be provided by the VP-Financial, IT, Facility, and Auxiliary Services for use in maintaining the quality and efficiencies of the Auxiliary Services operations. The President will review all proposed expenditures from the College Auxiliary Reserve Fund and approve them at their discretion and in accordance with the mission of the College.

The financial status of this fund is reported annually in the Financial Statements of Henry Ford College.

The President shall develop administrative guidelines for implementation of this policy.

V. Definitions

N/A

VI. Responsible Party for Policy Interpretation/Review

President of the College
Vice President of Finance

VII. Related Documents

N/A

VIII. Policy History:

a. Adopted by Board: May 14, 1996
b. Previous Policy Section: Finances; Previous Policy No. 2200

Reviewed/Updated

January 16, 2024 – Approved by Board of Trustees

December 11, 2023 – Reviewed by Policy Committee

This policy supersedes and replaces any and all past policies related to this subject