II. A. 2. d. Enterprise Funds

An enterprise fund is a fund used to account for revenues received for goods or services provided to the students or the general public on a continuing basis and primarily financed through user charges. Three criteria used to determine if an operation should be an enterprise fund include:

1) Generates revenues,
2) Provides services or goods to students or the community, and
3) Operates as a stand-alone entity.

Enterprise funds shall be considered as a source of revenue when developing annual budgets beginning in fiscal year 1988 in accordance with procedures developed by the Office of Administrative Services.

Enterprise funds shall not be used to supplant existing State or Federal funding.

Any revenues exceeding budgeted estimates shall be amended into the annual operating budget during the course of the fiscal year.

Funds remaining in these enterprise accounts at the end of each fiscal year may be put in reserve funds to finance enterprise operations including capital outlay projects, maintenance of buildings and equipment, purchase of new equipment, or support of enterprise operations which are not self-sustaining.

Enterprise funds shall be classified as proprietary fund types.

Enterprise funds include but are not limited to those created by revenues from:

1) Cafeterias (institutional or contracted),
2) Snackbars (institutional or contracted),
3) Bookstores,
4) Dormitories,
5) Faculty/Staff Housing,
6) Vending (institutional or contracted),
7) Student Transportation,
8) Game Room.

All enterprise funds shall be under the direct management, control, and supervision of the Technical College President.

---

Adopted: July 1, 1986
Revised: May 31, 2001
Code: 07-03-05

Approved