The President shall ensure assets of the college are maintained and protected from unnecessary risk.
Accordingly, the President may not:
- Fail to insure against property and casualty losses in amounts consistent with replacement values or against liability losses to Commission members, staff, or the college itself, in amounts consistent with limits of coverage obtained by the sixteen colleges in the state technical college system.
- Allow personnel who are not bonded access to material amounts of funds.
- Permit plant and equipment to be subjected to improper wear and tear or inadequate maintenance.
- Unnecessarily expose the college, the Commission, or staff to claims of liability.
- Receive, process, or disburse funds under controls that are not sufficient to meet the generally accepted accounting principles.
- Acquire, encumber, or dispose of real property without Commission approval.
- Fail to protect property, information, records and documentation from loss or damage.
- Dispose of surplus property without complying with state statutes and regulations.
- Fail to protect the college's trademarks, copyrights, and intellectual property interests.