Ohio Administrative Code
Title 3354:2 - Lakeland Community College
Chapter 3354:2-10 - College Gounds In General
Section 3354:2-10-13 - Guidelines for financial reserves

Universal Citation: OH Admin Code 3354:2-10-13

Current through all regulations passed and filed through September 16, 2024

The following guidelines are established for undesignated reserves within board controlled unrestricted funds for the purpose of providing fiscal stability to the college.

(A) Educational and (general current operating) Fund

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.

(B) Auxiliary fund

The undesignated reserve within this fund balance should be greater than or equal to five per cent of this fund's annual revenues.

(C) Renewals and replacements (unrestricted) plant fund

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

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