All transfers between funds shall be in conformance with ORS 294.361 and ORS 294.388. The Budget Document shall clearly show for each fund the amounts, origin and destination of each transfer. Accompanying documentation shall list the specific purposes for each transfer and will be submitted to the board for approval in initial budget or subsequent resolution.
Transfers from the General Fund to other funds shall be for the following purposes:
- Debt service on an obligation incurred as a part of normal operations of the college;
- Goods and services provided to General Fund units by units in other funds;
- Construction, maintenance and acquisition of facilities and/or real property used by the college in support of its mission;
- Acquisition of capital equipment for use by the college in support of its mission;
- Matching funds for grants and contracts;
- Operation of certain financial aid functions and matching funds required for financial aid grants;
- Contractual and legal obligations to employees and retirees for compensation and benefits;
- Other needs as deemed appropriate and necessary by the board for fulfilling the obligations of the college.
Legal: ORS 294.388 - Estimates and reconciliation of expenditures and other requirements
ORS 294.361 - Contents of estimate of budget resources
Note: This policy replaces retired Board Policy 280 (last reviewed December 4, 2024). The language has been adopted without change and renumbered to align with the four-digit policy structure.