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Pima County Community College District Board Policy

Board Policy Title:  Interfund Loans
Board Policy Number: BP-2405
Adoption Date:  12/17/80
Revision Date(s):     3/9/94, 11/10/09
Schedule for Review & Update:     Annually
Unit Responsible for Review & Update:  Executive Vice Chancellor for Finance and Administration
Sponsoring Unit/Department:    Executive Vice Chancellor for Finance and Administration
Motion Number:   5170
Legal Reference:             
Cross Reference: 

The Board of Governors authorizes the fiscal procedure of making loans among funds provided such loans are in keeping with external funding restrictions, do not exceed four consecutive months, and interest at prevailing rates is charged to the borrowing fund.  The Board empowers the Chief Executive Officer, who may delegate this authority to an appropriate College officer, to approve interfund loan transactions.