Policy # 6423:00
Subject: MCCS Acceptance of Gifts
Section: Business Operations (6400-6499)
Effective: Ongoing
The following policy statement outlines the procedures to be used when accepting or declining aid, money, or property for the MCCS:
The Board of Trustees is solely responsible for the receipt and acceptance of aid, money, or property to carry out the educational goals of the Maine Community College System. The Board of Trustees reserves the right to decline any gift which it considers to be inappropriate, burdensome, or contrary to the purpose of its charter.
Authority and Responsibility
Campus presidents are responsible for the reporting of gifts to the Board of Trustees in a timely and efficient manner. The Executive Director’s office is responsible for the preparation of a summary of the gifts to be presented to the Board of Trustees for their action. The Executive Secretary to the Executive Director will notify the campus of the Board of Trustees’ decision regarding proposed gifts. Each campus will be responsible for the acknowledgment of gifts.
Each gift received at any one of the six community colleges shall be used at that campus. If no campus is designated but the intent of the donor is clear through the language used, through prior connections of the donor to a given campus, or through prior correspondence, the Board will honor such intent. If specific allocation is not evident in the gift transmission after consideration of all such facts, the Trustees may rely upon the recommendation of the Executive Director.
Administrative Procedures
Each campus, upon notification of a gift, will provide the Executive Director’s office with information including the nature of the gift, the dollar value, any administrative restrictions, official documents, and copies of any other material concerning the gift or bequest. Each campus business office and/or the president’s office must maintain a complete file on each gift.
Each campus business office, in cooperation with the System Finance and Administration Office, is responsible for the deposit and credit of cash gifts to the correct fund in accordance with any restrictions placed on the gift by the donor. If a cash donation is received prior to action by the Board, the campus business office will deposit and credit the funds to a suspense account pending Board action.
Upon approval of a non-cash contribution, the gift will be recorded in the appropriate fund at the fair market value as of the date of the gift. It is the responsibility of the donor to provide the estimated value of the gift.
Legal fees involved in processing gifts will not normally be absorbed from gift funds. The campus to which the funds are credited will be charged for any legal services incurred in its processing, with the Executive Director’s office charged for fees related to designated system gifts. Last changed: Dec 13 2007 at 2:22 PM
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