2.5 Asset Protection

The Chancellor shall ensure that institutional assets are protected, adequately mantained, and not exposed to unnecessary risk.

AMENDED June 28, 2022, Governing Board Meeting 

AMENDED October 22, 2013, Motion No. 10112

AMENDED February 22, 2011, Motion No. 9781, 9782

Chancellor Interpretation

I interpret this policy to mean that the MCCCD will be operated with an adequate system of internal controls, both accounting and administrative, that are sufficient to meet Generally Accepted Accounting Principles and auditing standards. Compliance will be met when:

• An organizational governance structure is implemented that allows for independent assessment & reporting to the Chancellor or the Board as appropriate. This includes mechanisms to identify when conditions exist and processes for the institution to respond appropriately.
• Investment or reinvestment of moneys received by the District will occur in a manner allowed under the laws of the State of Arizona.
• The District's public image and credibility are not endangered.

AMENDED June 28, 2022, Governing Board Meeting

AMENDED November 26, 2013