|Conflict of Interest: Board of Trustees and College President
||Approved Date 11-15-2016
Effective Date 11-15-2016
Revision No. 1.0
This policy establishes guidelines for determining, disclosing, and acting on actual, potential, or perceived conflict of interests.
2.0 Revision History
||Expanded the policy and added the president to meet accreditation standards.
3.0 Persons Affected
3.1 Board of Trustee Members (Trustee)
3.2 President of the college
The policy of Casper College is to ensure the following.
4.1 The college upholds the public trust and operates with integrity.
4.2 The college has a process to identify, assess, and manage potential or perceived conflicts of interests.
4.3 Trustees and the president act in the best interest of the college.
4.4 Trustees and the president identify and disclose potential conflict of interests and conduct themselves in a manner that preserves the integrity of the college.
5.1 Conflict of Interest. A situation in which an individual is in a position to actually or potentially exploit a professional or official capacity for personal, familial, or business relationship gain, which may be financial or otherwise. A conflict of interest may compromise an individual’s objectivity or judgement.
5.2 Perceived Conflict of Interest. Circumstances are such that a reasonable person might suspect or anticipate a conflict of interest.
5.3 Family. Spouse/partner, children (including adopted and stepchildren), siblings (whole, half, and adopted), parents, grandparents, grandchildren, and in-laws and spouses of all of these family members.
5.4 Business Relationship. When a trustee, the president, or their family members is an employee, officer, director, partner, or trustee, or a controlling stockholder in an organization that did substantial business with the college the previous year.
5.5 Financial Interest. Anything of value including but not limited to salary, consulting fees, honorariums, debt forgiveness, gifts over $100 in value, stock, stock options or other ownership or use of student or staff time where the trustee, president, or a family member financially benefits from such use.
5.6 Substantial Business. An organization that received $10,000 or more from the college in the previous year.
5.7 Significant Financial Interest. When a trustee, the president, or their family member (1) has direct or indirect ownership interest of 5% or more from an organization that does substantial business with the college, 2) receives, directly or indirectly, cash or property receipts of $10,000 or more annually from an organization that does substantial business with the college, or 3) received more than $10,000 in compensation, remuneration, or benefits from the college the previous fiscal year.
5.8 Conflict of Interest Compliance Form. This form is used disclose actual, perceived, or potential conflicts of interest.
5.9 Management Plan. A plan developed to eliminate an actual conflict of interest or mitigate a potential or perceived conflict of interest. The plan should include the conflict of interest being addressed, restrictions, limitations, or modification placed on the trustee or president, and who is responsible for addressing non-compliance.
6.1 The Board of Trustees (BOT) is responsible for maintaining compliance with this policy.
7.1 Duty to Disclose
Trustees and the president must disclose potential conflicts of interest for themselves or their family members. Trustees must make the disclosure upon induction to the board, and annually thereafter. The president must make the disclosure upon employment, and annually thereafter. All parties must update their disclosure information within 15 business days of discovery of a new potential conflict of interest.
7.1.1 The executive assistant to the president and the BOT (executive assistant) provides new trustees with a Conflict of Interest Compliance form within 15 business days of induction to the BOT. New trustees have 15 business days to return the completed form to the executive assistant.
The executive assistant will provide a new president with a Conflict of Interest Compliance form within 15 business days of employment. The new president has 15 business days to return the completed form to the executive assistant.
The executive assistant provides the trustees and the president with a Conflict of Interest Compliance form annually on or before June 1. Trustees and the president must return the completed form to the executive assistant on or before July 1.
7.1.2 The BOT review the forms at their next available work session in executive session. Individual trustees or the president may present on their own behalf but must recuses themselves during the discussion of and voting on the potential conflicts of interest. The BOT may confer with legal counsel. The president does not vote on any of the submissions.
The BOT will determine one of the following findings:
18.104.22.168 No Significant Conflict of Interest. The disclosed situation does not meet the threshold of a significant financial interest and there is no suggestion of actual, perceived, or potential conflict of interest; no action is required.
22.214.171.124 Potential or Perceived Conflict of Interest. The disclosed situation has the potential or could be perceived as a conflict of interest. The BOT must develop a management plan for the trustee or the president.
126.96.36.199 Actual Conflict of Interest. The disclosed situation represents an actual conflict of interest. The BOT must develop a management plan to eliminate the conflict of interest for the trustee or the president.
7.1.3 Trustees or the president may ask the BOT to reconsider a ruling within 15 days of the ruling or upon a change in the situation.
7.1.4 The executive assistant maintains the Conflict of Interest forms and the management plans.