All transfers between funds shall be in conformance with ORS 294.361. The Budget Document shall clearly show for each fund the amounts, origin and destination of each transfer. Accompanying documentation shall list the specific purposes for each transfer and will be submitted to the board for approval in initial budget or subsequent resolution.

Transfers from the General Fund to other funds shall be for the following purposes:

• Debt service on an obligation incurred as a part of normal operations of the college;
• Goods and services provided to General Fund units by units in other funds;
• Construction, maintenance and acquisition of facilities and/or real property used by the college
   in support of its mission;
• Acquisition of capital equipment for use by the college in support of its mission;
• Matching funds for grants and contracts;
• Operation of certain financial aid functions and matching funds required for financial aid
   grants;
• Contractual and legal obligations to employees and retirees for compensation and benefits;
• Other needs as deemed appropriate and necessary by the board for fulfilling the obligations of
   the college.

ADOPTED: January 14, 2004
REVIEWED: April 23, 2007
REVISED: February 3, 2010
REVIEWED: November 4, 2014