- ACC will be fiscally responsible and demonstrate excellent stewardship of its fiscal resources.
- ACC may prudently use cash reserves as necessary to benefit the District.
Austin Community College annual budgets shall seek to maintain, throughout each fiscal year, unrestricted and unallocated cash reserves of at least 16.7% of budgeted total annual expenses plus total accounts payable. If unrestricted cash falls below this level, the President shall present a corrective plan to the Board of Trustees that will correct the shortfall within a time period acceptable to the governing board.
Cash reserve funds may fall below the policy level when deemed necessary by the Board of Trustees in order to make necessary or beneficial use of the reserve, with the understanding that the reserve level will be addressed during the following budgetary cycle(s).
The Austin Community College Board of Trustees adopted this policy on February 2, 1976, reaffirmed it on January 11, 1988, and amended it on May 5, 1997, April 1, 2002, May 3, 2004, October 6, 2008 and July 5, 2011. The policy number was changed from G-6 to G-5 on May 2, 2011 due to the elimination of Board Policy G-5. Implementation of Fees.