Ohio Admin. Code 3354:2-10-13 - Guidelines for financial reserves
The following guidelines are established for undesignated reserves within board controlled unrestricted funds for the purpose of providing fiscal stability to the college.
The undesignated reserve within this fund balance should be greater than or equal to ten percent of this fund's total annual expenditures and transfers.
The undesignated reserve within this fund balance should be greater than or equal to five per cent of this fund's annual revenues.
The undesignated reserve within this fund balance should be greater than or equal to two per cent of Investment in Plant. Investment in Plant means land improvements, buildings, and building improvements.
Replaces:3354:2-10-13
Notes
Promulgated Under: 111.15
Statutory Authority: 3354
Rule Amplifies: 3354
Prior Effective Dates: 2/7/2002
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