B02.01.01 Operating Fund Surplus

Policy Statement

Procedures/Rules Statements

Policy Statement

Douglas College is committed to using all resources available to it in furtherance of the College's Mission. This includes retaining an Operating Fund Surplus to safeguard the future operations of the College, applying investment earnings thereon to Student Aid.

Procedures/Rules Statement

1. The College Operating Fund Surplus should, at a minimum, be equal to 2.5% of annual budgeted operating fund revenues.
   
2. Sources for annual accumulation include, but are not limited to, the following:
   - budgeted operating fund revenues
   - annual year-end operating fund surpluses
   - ancillary appropriations
   
3. Investment earnings realized on the Operating Fund Surplus shall be paid quarterly to the Douglas College Foundation for distribution as Student Aid.
   
4. Any use of Operating Fund Surplus, together with a strategy for replenishment, require approval of the College Board.