Accessing Casper College Foundation Funds

1.0    Purpose

This policy establishes guidelines to access Casper College Foundation funds.

2.0    Revision History

3.0    Persons Affected

3.1    Casper College employees and students.

3.2    Casper College Foundation employees.

4.0    Policy

The policy of Casper College is to ensure the following.

4.1    The college has a process to request and access foundation funds that support the college’s mission, goals, priorities, and needs.

5.0    Definitions

5.1    Foundation Funds Access Form. Employees use this form to request access to foundation funds. The form includes the employee’s name, amount requested, what will be purchased, the purpose of the expenditure, and requester and subsequesnt approvers’ signature lines.

5.2    Emergency Request Form. Students use this form to request financial assistance for a need that may impede the student’s success in college. The form includes the student’s name and contact infroamtion, amount requested, type of assistance needed, and a student signature line. The student much include a copy of the bill for the requested assistance.

5.3    Employee Benevolent Fund Form. Employees use this form to request financial assistance to pay an emergency bill to include utilities, rent, medical, travel, or food expenses. The form includes the employee’s name, amount requested, nature of the requst, and a committee chair signature line. The employee must include a copy of the bill for the requested assistance.

5.4    Executive Council. This council consists of the president; vice presidents of academic affairs, student services, and administrative services; directors of information technology, human resources, and public relations. 

5.5    Unrestricted Funds. These are donated funds and investment earnings where the donor has not specified how the college or the foundation can use the funds.

5.6    Restricted Funds. These are donated funds and investment earning where the donor has specified and limited how the college and the foundation can use the funds.

6.0    Responsibilities

6.1    The president is responsible for maintaining compliance with this policy.

6.2    The Casper College Foundation executive director is respoonsible for the coordination and management of foundation funds.

7.0    Procedures

7.1    Unrestricted Funds Requests

7.1.1    The president and the foundation’s executive director discuss funding priorities annually and as needed to ensure that the college and the foundation are in sync with the needs of the college.

7.1.2    Employees submit unrestricted funding requests to the appropriate Executive council member who may approve or deny the request. Executive Council members submit approved requests to the president. The president may or may not include the requests on the funding request list to the foundation.

7.1.3    The president presents a funding request list to the foundation board annually and as needed.

7.1.4    The foundation board reviews the requests and provides the president with the requests and amounts that were funded.

7.2    Restricted Funds Requests

7.2.1    The foundation notifies executive council members, deans, directors, and other employees annually of how much money is available for the upcoming fiscal year from restricted funds for which they are responsible. The following are the steps to access these funds.

7.2.1.1    Scholarships The college awards student scholarships per the restrictions of the scholarship. The Accounting and Financial Management Office bills the foundation monthly for the scholarships awarded.

7.2.1.2    Student Emergency Fund Students submit a completed Emergency Request Form to the Student Success Center. Upon written approval from the director of student recruitment and retention, student success advisor, or success advocate, the Student Success Center will submit a requisition and the bill to the foundation. The foundation pays the bill.

As needed, the Student Success Center submits a requisition to the foundation for funds to purchase gas or meal cards or other similar items to distribute to students with immediate needs.Employee

7.2.1.3    Benevolent Fund Employees submit a completed Employee Benevolent Fund form to the foundation or the Benevolent Fund Committee chair. Upon notification of approval from the committee, the foundation issues a check to the employee for the approved amount.

7.2.1.4    College Programs, Events, or Activities Funds Employees submit a Foundation Funds Access Form to their supervisor and the appropriate Executive Council member. The supervisor may request a budget along with the form. If approved, the supervisor submits the form and budget, if applicable, to the foundation who will distribute the funds as requested.

Programs that will access funds monthly must submit an annual budget and the Funds Access Form to their supervisor and the appropriate Executive Council member. If approved, the supervisor submits the form and budget to the Foundation who will distribute the funds as requested.