POLICY: 6Hx28:9-02
Responsible Executive: Vice President, Business Operations and Finance
Policy Contacts: Director, Accounting
Specific Authority: 1001.64, F.S.
Law Implemented: 1001.64 & 1010.02, F.S.
Effective Date: 11-18-1992
Date of Last Policy Review: 04-29-2021

Policy Statement:

1. Gifts of property or equipment intended for use by the College must be approved by the vice president of business operations and finance prior to acceptance by the College. The acceptance of monetary gifts or contributions to the College shall not require the express approval of the vice president of business operations and finance.

    

2. Private gifts or contributions given in the name of the College, but intended by the donor to be administered by the Valencia College Foundation, Inc., may be transferred to the Foundation upon the approval of the vice president of Business Operations and Finance.

Policy History:

Adopted 12-11-74; Amended 6-28-78; Amended 12-15-82; Amended 11-18-92; Formerly 6Hx28:4-17; Formerly 6Hx28:04-05

Procedures:

1. Upon notification that a gift is available to the College, the vice president of business operations and finance will communicate with the donor and, if the gift is accepted by the College, express appreciation to the donor.

    

2. In the case of art work, the proposed gift will be examined and a recommendation made to the vice president for administrative services to accept or decline.

    

3. Prior to the approval of the transfer of private gifts or contributions from the College to the Foundation, the vice president for administration or a designee shall obtain satisfactory evidence that such transfer is in accord with the intent of the donor.

Procedure History:

Adopted 12-15-82; Amended 11-18-92; Formerly 6Hx28:04-05

Date of Last Procedure Review: 04-29-2021