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Board of Regents Policy 8.203 Board of Regents Policy 8.203



Title

Operating Reserves; Non-General Funds

Header

Regents Policy Chapter 8, Business and Finance
Regents Policy RP 8.203, Operating Reserves; Non-General Funds
Effective Date: 
Prior Dates Amended:  Oct. 31, 2014 (recodified)
Review Date:  August 2018

I. Purpose

To set forth policy on operating reserves and non-general funds.

II. Definitions

No policy specific or unique definitions apply.

III. Board of Regents Policy

    A. The university shall maintain adequate levels of operating reserves from non-general fund revenues. The amount of operating reserves shall take into consideration such factors as adequate financial ratios to preserve positive bond ratings, compliance with accreditation requirements, if any, and other financial management considerations as deemed prudent by the president and the chief financial officer, in consultation with the board.

    B. The board finds that, as a guidelines, operating reserves should be sufficient to provide for continued operations of the university for a minimum of two months. Understanding that each campus and unit of the university system operates under different circumstances and conditions, which may change over time, the board assigns the responsibility for the execution and implementation of this policy to the president, in consultation with the chief financial officer. Operating reserves in unrestricted non-general funds shall be monitored and reported quarterly to the Board of Regents.

    C. The university shall also maintain adequate levels of operating reserves for restricted non-general funds within the statutory authority of the respective funds. Such operating reserves shall be monitored on a quarterly basis by the respective campus responsible for such funds and reported annually to the Board of Regents.

IV. Delegation of Authority

There is no policy specific delegation of authority.

V. Contact Information

Office of the Board of Regents, 956-8213, bor@hawaii.edu

VI. References


VII. Exhibits and Appendices

No Exhibits and Appendices found

Approved

    approved as to Form:    
    Cynthia Quinn    
    October 31, 2014    
    Date    
    Executive Administrator and Secretary of the Board of Regents

Topics

No Topics found.


Attachments

None