• Incentive Accounts: AR-3240-A

  • Section 3000: Fiscal Management
    Incentive Accounts
    Administrative Regulation: AR-3240-A
    President’s Cabinet (PC) Approval: 4/6/92
    Revised: 8/11/98

    The investment officer is responsible for investing the financial assets of all excess funds of the District including the General Fund, Special Revenue Funds, Capital Project Funds, Enterprise Funds, Debt Service Funds, Internal Service Funds and any and all Trust and Agency Funds under control and direction of the College.

    The investment officer will routinely and actively monitor the contents of the investment portfolio, the available markets and the relative values of competing investments and will adjust the portfolio accordingly. The investment officer, acting in accordance with these procedures and exercising due diligence, will not be held personally responsible for a specific security’s credit risk or market price changes, provided that these deviations are reported as soon as practical and that appropriate action is taken to control adverse developments.

    All investments will be carried at cost. Gains or losses from investments will be credited or charged to investment income at the time of sale. Premiums or discounts on securities may be amortized over the life of the security.

    1. Purpose and Intent of Mt. Hood Community College (MHCC) Incentive Accounts
      1. Incentive accounts are designed to encourage students and staff to be creative about developing income producing activities which will provide funds separate from the College budget to enhance their College areas.
      2. Incentive accounts are intended to enhance the College and will adhere to administrative regulations and support community relationships.
    2. Incentive Account Activities
      1. An incentive activity is not part of the regular job description of the sponsoring College staff. Involvement in an incentive activity will not be required of MHCC students and staff. MHCC staff will not be paid for any involvement in an incentive account activity.
      2. An incentive account accrues revenue that has not been budgeted for in the District budget.
      3. Any direct costs such as maintenance, custodial and security, incurred by any incentive activity, will be reimbursed dollar for dollar by the sponsoring incentive account back to the District.
      4. All interest earned from incentive accounts will be deposited into the general fund to cover administrative overhead.
    3. Process and Approvals
      1. Establishing an incentive account will be approved by the appropriate vice president.
      2. Purchase orders and requests for payment are processed according to current administrative regulations with appropriate required approvals.
      3. It is the responsibility of the vice president to determine the appropriateness of the activity and the impact of the activity on the area and the College.
      4. All revenue generated by an incentive account goes directly back to the incentive account and all losses incurred by the incentive account are the sole responsibility of the sponsoring incentive account.  No District dollars will be used to balance the account at the end of an MHCC budget year.