701 - Statement of Policy
The Board of Trustees recognizes that its primary purpose is to provide the best education possible within the limits of the established curriculum and the financial ability of Indian Hills Community College. The Board of Trustees also recognizes its responsibility to the citizens of Merged Area XV for the efficient use of public funds. It shall, therefore, be the duty of the Board of Trustees to determine guidelines for the most effective use of public funds and for reporting to the public.
Date of Adoption: 01/10/67
Reviewed: 08/04/25
Revised:
Legal Reference:
Code of Iowa § 260C.14
Related Administrative Rules and Regulations:
706 - Authorization of College Seal
The Board of Trustees shall authorizes the official college seal for Indian Hills Community College.
Date of Adoption: 08/14/84
Reviewed: 08/04/25
Revised: 10/12/09
Legal Reference:
Code of Iowa § 279.7A
Related Administrative Rules and Regulations:
707 - Official Depositories of the College
At a regular meeting, the Board of Trustees shall designate by resolution, which shall be entered in the official minutes of the Board, the name and location of the bank or banks selected as the official depositories of the college. The resolution shall also designate the maximum amount that may be on deposit in each banking institution.
Date of Adoption: 01/10/67
Reviewed: 08/04/25
Revised: 10/12/09
Legal Reference:
Code of Iowa Chapters 12B and 12C
Related Administrative Rules and Regulations:
708 - Investment Policy
The Board of Trustees will review and approve the college investment policy at its regular meeting in September.
Date of Adoption: 08/11/92
Reviewed: 08/04/25
Revised: 10/12/09
Legal Reference:
Code of Iowa Chapters 12B and 12C
S.F.2036
Related Administrative Rules and Regulations:
709 - General Fund Endowment
Whereas, the Board of Trustees of the College desires to establish an institutional reserve fund, to be known as the Indian Hills Community College Endowment Fund, which may be expended by the Board from time to time, as it deems necessary or advisable. The principal and income of the Fund shall be accounted for, managed, invested, distributed and expended solely in accordance with Iowa Code Chapter 260C, as last amended, other applicable provisions of the Iowa Code and the Iowa Administrative Code and the policies of the Board. The Chief Finance Officer shall transfer to the Fund current resources of the College as may be prudent, and a report of any contributions to, and expenditures from, the Fund shall be reported to the Board at its next regular meeting.
Date of Adoption: 01/12/04
Reviewed: 08/04/25
Revised: 10/06/16
Legal Reference:
Legal Definitions for Iowa Community
October 1967, Code of Iowa Chapter 260C
Related Administrative Rules and Regulations:
711 - Income - Tuition Policies
The Board of Trustees shall establish and charge tuition for instruction in accordance with the Code of Iowa. Tuition rates shall be approved by the Board of Trustees and published in the College Catalog.
Tuition for residents of Iowa shall not exceed the lowest tuition rate per semester, or the equivalent, charged by an institution of higher education under the state board of regents for a full-time resident student.
Date of Adoption: 01/10/67
Reviewed: 08/04/25
Revised: 11/09/15
Legal Reference:
Code of Iowa § 260C.14(2)
HEOA (Public Law 110-315)
Code of Iowa § 261E.7
Related Administrative Rules and Regulations:
731 - Expense - Procurement Policy
The College shall procure goods and services using competitive procedures through a decentralized purchasing system, within established IHCC policies and administrative procedures; in accordance with current Code of Iowa and Federal regulations. College employees may not order goods or services in any manner except as provided in the Procurement Procedures or upon permission of the Chief Financial Officer. The College shall assume only those obligations authorized in accordance with the Procurement Procedures.
Contracts shall be awarded to the lowest responsible bidder complying with specifications and other stipulated bidding conditions. Preference shall be given to purchasing Iowa products and purchases from Iowa-based businesses if the bid submitted is comparable in price to bids submitted by out-of-state businesses and otherwise meets the required specifications, per the Code of Iowa.
Conflict of Interest in Procurement: No employee, officer, or agent of the College will participate in the selection, award, or administration of a contract if a real or apparent conflict of interest would be involved. Such a conflict would arise when the employee, officer or agent, any member of their immediate family, their partner, or an organization which employs or is about to employ any of the parties indicated herein, has a financial or other interest in the firm selected for an award. The officers, employees and agents of the College shall neither solicit nor accept gratuities, favors, or anything of monetary value from contractors, or parties to subagreements. Recipients may set standards for situations in which the financial interest is not substantial or the gift is an unsolicited item of nominal value (29 CFR Part 95.42)
Personal Purchasing as IHCC: No individual has the authority to enter into purchase contracts or in any way obligate Indian Hills Community College for procurement indebtedness, unless specifically authorized to do so by the President of the College, Chief Financial Officer, Board of Trustees, or their designee. Any such negotiations are considered unauthorized purchases and the individual will be personally obligated.
The Chief Financial Officer shall approve all purchases made in the name of the College except those authorized by direct action of the Board of Trustees or the President of the College. The procurement of all supplies, equipment, and services shall be initiated by the issuance of an official purchase order signed by the Chief Financial Officer.
Date of Adoption: 1/10/67
Reviewed: 08/04/25
Revised: 10/12/16
Legal Reference:
Code of Iowa 10A1.104(8)
Code of Iowa § 297.7; Chapter 73.16;
OMB Circular A-133
Related Administrative Rules and Regulations:
733 - Expense - Board Approval of Expenditures
The board of trustees of each merged area shall audit monthly claims paid against the merged
area to ensure proper and just payment of all claims. Each payment shall be made payable to the vendor entitled to receive the payment with appropriate justification to ensure that the payment is in accordance with generally accepted accounting principles and procedures and in accordance with the system prescribed under Section 260C.5, subsection 9.
The board of trustees authorizes issuance and use of college credit cards to use for payment of authorized expenditures incurred in the performance of work-related duties.
Date of Adoption: 1/10/67
Reviewed: 08/04/25
Revised: 11/12/16
Legal Reference:
Code of Iowa §§ 260C.5(9); 260C.14(11)
Code of Iowa § 260C.43
Related Administrative Rules and Regulations:
735 - Expense - Iowa Targeted Small Business
There is hereby established for each fiscal year of Indian Hills Community College a procurement goal from certified targeted small businesses, identified pursuant to Iowa Code Section 10A.104, subsection (8), of at least 10% of the value of anticipated procurements of goods and services, including construction, but not including utility services. The officers of the Board of Trustees and the staff of Indian Hills are hereby authorized, empowered and directed to execute such documents and to take such action as may be required to monitor whether the goal is achieved and whether there is compliance with applicable laws and regulations.
Date of Adoption: 11/12/91
Reviewed: 08/04/25
Revised:
Legal Reference:
Code of Iowa Chapter 10A.104(8)
Related Administrative Rules and Regulations:
752 - Report - Annual Financial Audit & Audit of Component Units
An independent financial audit of the College and any component units shall be conducted annually in accordance with generally accepted auditing standards, Chapter 11 of the Code of Iowa and the standards applicable to financial audits contained in Government Auditing Standards.
Date of Adoption: 01/10/67
Reviewed: 08/04/25
Revised: 10/12/16
Legal Reference:
Code of Iowa Chapter 11;
Government Auditing Standards
Related Administrative Rules and Regulations:
761 - Insurance - Employee Bonding Required by Law
The Board of Trustees shall maintain an insurance program that includes but is not limited to comprehensive general liability and property insurance that provides adequate coverage in the event of loss or damage of the school buildings and equipment.
Bonds of Secretary and Treasurer – The Secretary and Treasurer, within ten days after appointment and before entering upon the duties of the office, shall execute to the school corporation a surety bond in an amount sufficient to cover current operations as determined by the board. All such bonds shall be continued to the faithful discharge of the duties of the office.
The Secretary and Treasurer may give bond under a single bond covering other employees of the district.
Date of Adoption: 01/10/67
Reviewed: 08/04/25
Revised: 10/12/09
Legal Reference:
Code of Iowa § 291.2
Related Administrative Rules and Regulations:
771 - Records - Retention Policy
Source documents regarding financial and administrative information will be retained as required for auditing purposes, state and/or federal regulations, or internal research needs. The documents will be stored in a manner allowing for reasonable safekeeping, fire protection and availability.
This records retention policy is included in the staff handbook.
Date of Adoption: 11/14/89
Reviewed: 08/04/25
Revised: 10/12/16
Legal Reference:
Related Administrative Rules and Regulations:
IHCC Staff Handbook
772 - Records - Inventory
A perpetual inventory of all capital assets ($5,000 capitalization level) shall be maintained under the supervision of the Chief Financial Officer. This inventory shall be reviewed and reconciled annually prior to the college audit.
Technology equipment costing less than $5,000 will be maintained as a separate and perpetual inventory under the responsibility of the college’s Information Technology department (CIO).
Date of Adoption: 01/10/67
Reviewed: 08/04/25
Revised:
Legal Reference:
Related Administrative Rules and Regulations:
781 - Sites and Facilities - Land Ownership
A merged area shall not purchase land that will increase the aggregate of land owned by the merged area, excluding land acquired by donation or gift, to more than three hundred twenty acres without the approval of the director of the Department of Education. The limitation does not apply to a merged area owning more than three hundred twenty acres, excluding land acquired by donation or gift, prior to January 1, 1969.
With the approval of the director of the Department of Education, the board of trustees of a merged area at any time may sell any land in excess of one hundred sixty acres owned by the merged area, and an election is not necessary in connection with the sale.
Date of Adoption: UNK
Reviewed: 08/04/25
Revised:
Legal Reference:
Code of Iowa § 260C.35
Related Administrative Rules and Regulations:
782 - Sites and Facilities - Perpetual Care - Mt. Olivet Cemetery
Indian Hills Community College acknowledges and accepts the responsibility for the perpetual care of Mount Olivet Cemetery, owned by the Sisters of Humility and existing on the Ottumwa campus of Indian Hills.
Date of Adoption: 08/31/01
Reviewed: 08/04/25
Revised:
Legal Reference:
Related Administrative Rules and Regulations:
783 - Sites and Buildings
Site and Building Specifications
The Board shall accept as minimum standards such site and building specifications as issued by the Iowa Department of Education and all governing bodies having jurisdiction. The board may adopt additional standards over and above the specifications issued by the Department of Education as it deems necessary and beneficial to the college.
Acquisition of Sites and Buildings
The President of the College shall present for Board approval the acquisition of all sites and buildings prior to any action concerning the same.
Selection of Architect
Architects shall be selected by the Board with the counsel and recommendation of the President and other administrative staff members for each specific project.
Upon employment by the Board, the architects shall be under the supervision of the President of the College or designee.
Construction of Building and Sites
All buildings and construction work funded by the College, in compliance with current Iowa Code Chapter 26 cost previsions, must be approved by the board of trustees. All other buildings and construction work shall with costs below the Code of Iowa threshold shall be in accordance with procedures approved by the President or designee.
Date of Adoption: 01/10/67
Reviewed: 08/04/25
Revised: 10/12/16
Legal Reference:
Code of Iowa § 260C.35, Public Construction Bidding
Related Administrative Rules and Regulations:
791 - Related Organizations - Foundations Approved
The Indian Hills Community College Foundation and Development Corporation are approved by board of trustees.
The board of trustees may accept and administer trusts and may authorize nonprofit foundations acting solely for the support of the community college to accept and administer trusts deemed by the board to be beneficial to the operation of the college.
Date of Adoption: 04/16/74
Reviewed: 08/04/25
Revised: 10/12/16
Legal Reference:
Code of Iowa § 260C.32
Related Administrative Rules and Regulations:
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