TMCC Policy Manual: Fiscal and Business Affairs

The accounting system is maintained and financial reports are presented on the accrual basis. A year-end financial statement is prepared by the Accounting Services Office and audited by independent auditors.

Responsible Office(s): Accounting Services

Procedure: The procedures for accounting transactions are located in the Accounting Services User Procedure Manual.

Updated: October 15, 2013

The fiscal year for the College is July 1 through June 30. Note: Summer school is on a January 1 through December 31 fiscal year.

Responsible Office(s): Accounting Services

Procedure: N/A

Updated: August 1, 2013

The College is not allowed to have bank or investment account(s) other than those specifically approved by the Board of Regents. College-related organizations, such as student clubs, operating departments, student association, etc. are prohibited from establishing individual bank or investment accounts.

Responsible Office(s): Accounting Services

Procedure: N/A

Updated: August 1, 2013

Inventorial equipment shall be defined as all non-expendable personal property having a unit cost of $5,000 or more and meeting the following criteria: (1) is complete in itself; and (2) is of a durable nature with a life expectancy of two years or more. This definition does not apply if equipment is leased, rented, or placed at a College facility for demonstration purposes.

Responsible Office(s): Auxiliary Services

Procedure: The procedures for equipment inventory are available on the Auxiliary Services website.

Updated: October 15, 2013

Non-inventory personal property items that are sensitive in nature must be separately tracked by the responsible department regardless of value. Sensitive property items are highly desirable and easily converted to unauthorized personal use. Non-inventory equipment is all items with a value between $500 and $4,999.99. A separate inventory list of sensitive equipment and non-inventory equipment must be maintained by each department.

Responsible Office(s): Auxiliary Services

Procedure: The procedures for equipment inventory are available on the Auxiliary Services website.

Updated: October 15, 2013

The Business Center North (BCN) Purchasing Department administers all purchases of supplies, goods, equipment, services and construction.

Responsible Office(s): BCN Purchasing | Accounting Services

Procedure: The procedures for equipment inventory are available on the Auxiliary Services website.

Updated: October 15, 2013

Host expenditures may be incurred by or on behalf of employees or guests of the institution in the conduct of necessary business activities. Hosting must provide a benefit to the institution through the establishment of goodwill, promotion of programs, or the creation of opportunities in which the mission of the institution may be advanced.

Responsible Office(s): Budget and Planning Office

Procedure: The procedures for host-related expenditures are available on the Budget and Planning website.

Updated: December 10, 2019

All departments who retain services or goods for the College of a contractual nature and is not covered by employment contracts shall be considered independent/supplier contracts.

Responsible Office(s): Budget and Planning Office

Procedure: The procedures for contracts are available through TMCC's Budget and Planning Office and the BCN General Purchasing Guidelines.

Updated: October 1, 2020

Institutional memberships can be paid from state funds. The Accounting Services User Procedure Manual defines the process for these categories of expenditures.

Responsible Office(s): Accounting Services

Procedure: Refer to the Accounting Services website.

Updated: October 15, 2013

TMCC has opportunities for the use of stipends, fellowships and grants-in-aid.

Responsible Office(s): Human Resources

Procedure: Refer to the Human Resources website.

Updated: October 15, 2013

The College shall charge an indirect cost rate to appropriate self-support programs, including programs supported by grants and revenue contracts. Rates will be based on the federally approved indirect cost unless grants and contracts from outside agencies are based on guidelines established by the awarding agency.

Responsible Office(s): Budget and Planning Office

Procedure: Available on the Budget and Planning Office's website.

Updated: October 15, 2013

Loans of College-owned equipment or equipment in the care and custody of the College will be recorded on the Equipment Loan Agreement.

In accordance with the Board of Regents Handbook, Title 4, Chapter 1, Section 25, employees shall not use NSHE time, property, equipment, or other facility for personal or financial benefit. However, limited personal use is allowable if the use does not interfere with the performance of an employee’s duties, the cost and value related to the use is nominal, and the use does not create the appearance of impropriety or of NSHE endorsement. Personal use shall not interfere with official institutional use. Personal use of NSHE time, property, equipment, or other facility must be approved in advance by the employee’s supervisor.

Responsible Office(s): Budget and Planning Office

Procedure: 

• Loans, rentals, or individual use of College equipment for a non-College activity is not permitted, except with the written approval of the President.
• Loans to other institutions of the Nevada System of Higher Education must be approved by the President.
• Loan of federal equipment must have the prior written approval of the federal contracting officer. A copy of all such approvals will be attached to the departmental file copy of the Equipment Loan Agreement.
• Loans exceeding 30 days will be reported to the Equipment Inventory Clerk on the Equipment Loan Agreement form, on the initial action and subsequent return of the equipment.
• Loans for less than 30 days will also be recorded on the Equipment Loan Agreement form, which will be kept in the department. The borrower may be responsible for replacement or repair of the equipment.

Updated: August 1, 2013

An employee’s travel, lasting over twenty four (24) hours, must be approved by the appropriate approving authority (vice president, dean, director, or designee) prior to any travel.

Travel rules and regulations are established by Budget and Planning in accordance with Board of Regents, State of Nevada and Federal Government rules, regulations, policies and best business practices.

Responsible Office(s): Accounting Services

Procedure: Procedures are located on the Accounting Services website.

Athletics Team Travel must be pre-approved by the appropriate approving authority (vice president, dean, director, or designee) prior to any travel through the Workday spend authorization process.Travel rules and regulations are established in accordance with the Board of Regents, State of Nevada and Federal Government rules, regulations, policies and best business practices.

Responsible Office(s): Accounting Services

Procedure: Procedures are located on the Accounting Services website.

International Travel must be pre-approved by the appropriate approving authority (vice president, dean, director, or designee) prior to any travel through the Workday spend authorization process. Travel rules and regulations are established in accordance with the Board of Regents, State of Nevada and Federal Government rules, regulations, policies and best business practices.

Responsible Office(s): Accounting Services

Procedure: Procedures are located on the Accounting Services website.

The College will prepare an operating budget each year for state appropriated accounts. Other funds may be included if they include state appropriated funds. Budgets will be prepared in accordance with processes developed by the NSHE and the TMCC Cabinet. The TMCC budget office will coordinate the production of the annual budget. 

Responsible Office(s): Budget and Planning Office

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: October 15, 2013

Departments may request funds be transferred between objects using the Budget Transfer Request. Requests will be reviewed by the TMCC budget office to ensure they are in compliance with NSHE procedures and TMCC cabinet direction.

Responsible Office(s): Budget and Planning Office

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: October 15, 2013

The College will prepare an operating budget each year for self-supporting accounts with anticipated expenditures of $25,000 or more. Budgets will be prepared in accordance with processes developed by the NSHE and the TMCC Budget and Planning Office. The TMCC Budget and Planning Office will coordinate the production of the self-supporting budgets.

Responsible Office(s): Budget and Planning Office

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: August 1, 2013

Replacement of budgeted positions are managed at the College budget level as they are subject to external conditions including mandatory salary and fringe benefits savings and unfunded salary and benefit adjustments. They include the use of any salary and fringe benefits savings due to attrition from full-time positions (0.50 FTE and higher). Departments may request these savings be allocated to similar uses within the department.

Responsible Office(s): Budget and Planning Office

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: November 15, 2012

Each approved position will be assigned a position control number through Workday. Prior to initiating the hiring process, a position number must be established.

Responsible Office(s): Human Resources

Procedure: Procedures for hiring are located on the Human Resources website.

Updated: October 1, 2020

General Policy
College reserves shall be adopted as part of the College’s annual budget plan process. All expenditures drawn from reserve accounts that reduce the balance below the required minimum shall require prior approval from the President. The College retains the right, however, to sweep level funds during periods of financial need.

Self-Funding Program Account Reserves
Self-funding programs are institutional profit centers that rely on the sales of goods and services for operations. The College will maintain a reserve for each of these programs to provide for adequate cash flow, multi-year planning, and operation contingencies. The minimum reserves will be equal to 15 percent of each fund’s program’s operating revenues from the prior year unless a different level is agreed upon as necessary to sustain its operations. To ensure continuity and encouraged growth of these programs, 50 percent of any excess funds after meeting the required reserve level shall be retained by the program and used as part of its succeeding year’s budget plan. Additionally, expenditures from self-funding programs are subject to indirect cost contributions that are consistent with other grants and contracts defined on the Budget and Planning website.

Annual Opportunity Fund
At the beginning of each fiscal year, when funds are available, the College may establish an Annual Opportunity Fund that is equivalent to no more than two (2) percent of the state formula budgeted operating revenues (state allocation, tuition, and general fund portion of registration fees). The fund will be apportioned to the Resource Allocation Process throughout the year for special projects and unplanned but necessary expenditures that occur outside of the planned annual budget.

Contingency Reserves
The College will maintain a minimum operating reserve to provide for such items as adequate cash flow, emergencies, budget contingencies, multi-year planning or capital commitments. The general fund operating reserves will be based on 15 percent of the College’s state formula-budgeted operating revenues (state allocation, tuition, and general fund portion of registration fees) for the current fiscal year. Expenditures that reduce the balance below the 15 percent minimum must be approved by the President in advance.

Responsible Office(s): Budget and Planning Office

Procedure: Procedures are located on the Budget and Planning Office website.

Updated: June 18, 2020

Solicitation of private foundations or potential donors must be coordinated through the Foundation. Donor restriction on gifts to Truckee Meadows Community College must be followed.

Responsible Office(s): TMCC Foundation

Procedure: Procedures are located on the Foundation Office website.

Updated: October 15, 2013

The Truckee Meadows Community College Foundation Board of Trustees is responsible for the receipt of gifts to the TMCC Foundation. Gifts to the TMCC Foundation do not follow the same State rules that govern gifts to Truckee Meadows Community College, the institution. The TMCC Foundation, per Board of Regents handbook policies, may use the university purchasing and personnel services, as needed. Donor restriction on gifts to Truckee Meadows Community College Foundation must be followed.

Responsible Office(s): TMCC Foundation

Procedure: Procedures are located on the Foundation Office website.

Updated: October 15, 2013

The TMCC Grants Office is responsible for providing the technical support and knowledge necessary to optimize current utilization of grant funding, obtaining the additional external funding and resources necessary to carry out the College's strategic goals and ensuring complete fiscal and program accountability for all grant funded projects.

Responsible Office(s): Grants Office

Procedure: N/A

Updated: September 17, 2013

All grant applications must be approved in advance by the appropriate Dean, Vice President and President. Upon approval of the President, the grant application will be submitted by the TMCC Grants Office.

Responsible Office(s): Grants Office

Procedure: Procedures are located on the Grants Office website.

Updated: October 21, 2013

Grant renewals, reauthorizations, and/or revisions (including both budget and program revisions) must be approved in advance by the President and processed by the TMCC Grants Office.

Responsible Office(s): Grants Office

Procedure: N/A

Updated: October 21, 2013

Grant awards will be received and acknowledged by the TMCC Grants Office.

Responsible Office(s): Grants Office

Procedure: N/A

Updated: October 15, 2013

Students who wish to participate in grant-funded programs must meet all of the requirements of the granting agency and Truckee Meadows Community College to be eligible to participate, including but not limited to submitting to background checks, drug testing and any other grant requirements.

Responsible Office(s): Grants Office

Procedure: Procedures are located on the Grants Office website.

Updated: October 15, 2013