Fiscal Policies Statement

  1. Purpose:  To provide guidelines for the proper handling of DXATC assets to safeguard the college’s financial position and ensure the responsible treatment of funds and assets provided by Taxpayers, Students and other supporters.
  2. Employees responsible for assets are expected to treat DXATC property with care.  Equipment should be protected from damage, loss and/or theft using measures appropriate to the asset in question.
    1. Dual controls shall be implemented for the protection of DXATC funds and assets.  Unless specifically provided for in the following policies, each responsible person shall implement controls that involve two or more employees to reduce opportunity for fraud and negligence.
    2. Back-ups, including but not limited to electronic files and paper trails, must be maintained and updated as often as reasonably appropriate to ensure that records are not lost in the event of unforeseen events.
  3. It is understood that is impossible to include all possible instruction or scenarios in a document, so it is expected that all DXATC employees will use good judgment in those circumstances not addressed within the procedures manual.

Purchasing

  1. Purchasing Responsibilities
    1. The Finance Office shall be responsible for the procurement of supplies and services and the selection of suppliers required by DXATC and all its departments within legal requirements.
    2. Locate and ensure adequate and continuing sources of supply, consistent with legal, budgetary and delivery requirements.
    3. Provide the necessary assistance to acquire such supplies and services on a timely and economical basis.
    4. Assure compliance with all applicable federal, state, and college regulations while meeting procurement needs.
  2. Procurement Limitations & Restrictions
    1. Purchases for the personal use of employees with DXATC funds is prohibited
    2. Per the Utah Public Officers' and Employees' Ethics Act, special procedures must be followed before DXATC may purchase goods or services from DXATC personnel or from business firms in which DXATC personnel serve as officers or directors or hold a substantial financial interest.
    3. Unless specifically approved in writing by the appropriate administrator, orders or commitments for procurement by faculty or staff members shall not bind DXATC.
    4. Individuals who do not comply with DXATC policy when placing procurement orders may become personally liable to the vendor for the contract price.
  3. Requisitions
    1. A requisition shall be submitted to initiate the procurement of supplies and services by the Finance Office except where explicitly allowed for elsewhere in this policy.
    2. Each requisition should be limited to similar or related items that are known or can reasonably be expected to be available from the vendor.
    3. All equipment, supplies, or services that are intended to be acquired at or about the same time as component parts of a single transaction should be included in the same requisition or series of related requisitions submitted simultaneously. It is improper under the law to divide or split procurement transactions into small units that are artificially devised to avoid the bidding requirements and other procedures applicable to larger unit transactions.
    4. Completed requisitions submitted to the Finance Office will result in the encumbrance of departmental funds upon issuance of a purchase order.
    5. Purchases exempt from requisition:
      1. Payroll
      2. Travel
      3. Petty cash purchases not exceeding $100
      4. Approved purchasing card purchases not to exceed $500
      5. Payments or reimbursements for goods or services approved with Check Requests where obtaining an invoice would be impossible or highly impractical.  Note: Reimbursements require approval of both the budget administrator as well as the Finance Office.
      6. Custom Fit transactions which follow State Custom Fit guidelines and approved procurement practices specific to that program.
    6. Purchases over $3,000
      a) In addition to the procedural approval of the appropriate budget administrators, certain larger purchases have further requirements.
      b) Purchases under $3,000.00 require only approval of the appropriate budget administrator as explained previously in the policy.  It is expected that the requesting person and budget administrator will take reasonable measures to ensure competitive pricing and be responsible stewards over DXATC funds.
      c) Purchases between $3,000.00 and $9,000.00 require written bids from at least two vendors. The bid prices should be included with the requisition to document that such bids were received.
      d) Purchases between $10,000.00 and $29,999.99 require written bids from at least three vendors. Faxed bids satisfy this requirement.
      e) purchases $3,000.00 and over require a more formal budget process and must be advertised in a newspaper with statewide circulation.
      f) Custom Fit Training costs are exempt from bid requirements.

Independent Contractors

  1. Form W-9 should be collected from any vendor, except corporations, providing services to DXATC.  Payments will not be made to service providers for whom a W-9 is required before a completed W-9 has been received by the Finance Office.
  2. It is the responsibility of the budget administrator for whom the service is provided to collect the W-9 and provide it to the Finance Office.
  3. For payments over $1,000, a DXATC “Independent Contractor Agreement” should be completed and signed prior to any work being performed.  Other agreements may be substituted only if they are substantially similar to the “Independent Contractor Agreement” including Custom Fit Approved Vendor forms. 
  4. All payments are to be requested on an official business invoice or a Contracted/Extra Services form.
  5. Procedures
    1. Requests for payments to non-corporate service vendors which fit within this policy will be submitted on a Contracted/Extra Services form.  This form will be accompanied by a W-9 form.
    2. These forms will be provided to the Finance Office.
    3. The Finance Office will check the forms to determine if the payment should be reclassified as a payment to an employee. If such a reclassification is made, the budget director will be required to submit a W-4 and I-9 forms.
    4. Requests determined not to be for wages will be added to Accounts Payable. Payments to vendors will be made on the next A/P check run after all documentation is received and processed.

Budget administrators who disagree with the classification of the payment as an employee or an Independent Contractor may request a review from the Finance Officer.  If the dispute is not settled satisfactorily, the administrator may appeal to the Campus President.

Payroll

  1. New Employees
    1. Required forms including, but not limited to W-4 and I-9 must be completed by an employee prior to any payroll disbursements to such employee.
  2. Pay Periods
    1. DXATC employees will be paid on the 15th and the last day of each calendar month (or the last business day before the regular payday if the regular payday falls on a weekend or holiday).
    2. Salaried faculty and staff will be paid for their service up to the pay date.
    3. Hourly adjunct and part-time employees have the responsibility of keeping their timesheet information accurate and current.  They will be paid for current time worked and recorded on a properly completed and signed timesheet received by the finance office at least 5 days prior to payday.
  3. Payment
    1. Payment shall be made to employees via direct deposit into a qualifying bank account on the pay dates indicated above.
      1. If a reasonable case can be made by an employee requesting to be paid via paper check, exceptions on a case by case basis may be considered.

Travel

  1. It is understood that DXATC employees will be called upon for various reasons to travel on college business.  DXATC will assume necessary and reasonable costs for those requested and/or authorized to travel by the college.
  2. Authorization 
    1. Any authorized person may travel on official college business at college expense providing the budget is approved and the travel has been authorized.
    2. Travel Authorization Forms must be completed for all travelers. These forms are available from the Finance Office or Reception Desk and should be completed at least three working days prior to the first day of travel and must include projected expenditures approved by the budget administrator.  Each traveler should submit a separate Travel Authorization Form. Group travel will be covered under one Travel Authorization Form, and the organizer of the group should complete and submit this form.  To ensure proper reimbursement, signatures from the appropriate budget administrator(s) must be obtained.
  3. Expense
    1. Expenses may be paid in a variety of ways.  In all cases, effort should be made to ensure that travel is as economic as reasonably possible. 
    2. The college keeps credit cards that may be checked out to pay for expenses.  These may be checked out by employees who have prior authorization to cover travel expenses.  Original receipts detailing any expenditure must be returned to the Finance Office along with the card.  If receipts are not provided or unreasonable charges are found charged to a DXATC card, the responsible person may be required to repay the money and may be subject to disciplinary action including, but not limited to: revocation of the privilege of using DXATC cards, corrective discussion, probation and/or dismissal.
    3. Expenses may be paid by the traveler and pre-approved expenses reimbursed by check from DXATC.  If waiting for the next A/P run causes a financial hardship, an emergency check may be issued sooner.  An emergency check is subject to approval and a possible charge.
    4. Often it is possible (as in the case of airline tickets) to pre-pay travel expenses.
  4. Meals
    1. DXATC provides a meal allowance for all college travel. This allowance is not normally taxable income to the employee, but the cost of meals for trips fifty (50) miles or more from the college which do not require an overnight stay may be claimed by an employee will be treated as taxable income to the employee and may be included in the employee's W-2 form.
    2. The allowance for meals is an established daily amount.
      1. The standard per diem amount for meals should be adjusted for meals not eaten as part of the trip (i.e., when the traveler is traveling for only a portion of the day).
      2. The college will reimburse the recipient for meals away from home without regard to meals provided by airlines, conferences or meetings. This will allow the traveler flexibility in managing his/her daily meal allowance, and may enable him/her to claim the standard allowance even when some meals may substantially exceed the allowance for that meal.
  5. Per Diem, Mileage & other standard reimbursables.
    1. See addendum ‘A’ for current rates (no receipt required):
      1. Under most circumstances, per diem rates will be used for meals.  Cases in which actual cost reimbursement is requested may be examined and approved at the discretion of the Campus President.  Detailed receipts will be required.  The traveler will only be reimbursed standard or actual rates for a trip.  No combination of the two is allowed.
    2. Mileage for personal vehicle use will be paid at the current rate (see Addendum ‘A’
      1. DXATC has access to DSC’s motor pool if arrangements are made and a vehicle is available.  Use of motor pool sedans & mini-vans will be billed to DXATC and its departments and programs at DSC’s current mileage rate.  For policies regarding use, please see DSC’s policy (4.8, and specifically 4.8.8)
    3. Lodging with relatives is reimbursable at the current rate listed on Addendum ‘A’
  6. Travel Claims
    1. A completed travel claim form is required within 30 days following the return of the trip.
    2. Travel claims filed after the 30 day deadline will be denied.
    3. Travel claims requesting reimbursement for costs exceeding the estimate on the travel authorization form by greater than 10% will require approval from the budget administrator.
    4. Receipts are always required for reimbursement of expenses except where standard rates such as per diem and mileage are applied.
    5. DXATC will allow a maximum gratuity for meals (when actual cost reimbursement is requested and approved), taxi service, maid service, shuttle bus drivers, bellhops, etc. reimbursable at current rates found on Addendum ‘A.’ and may be subject to the scrutiny of the budget administrator and Finance Office.

Budgeting

  1. The budgeting process is tied directly to the strategic planning process (appendix a).  Budget requests are based on goals that are mutually agreed upon by those requesting budget and approved by budget supervisors.  Key steps are: 
    1. By May of each year, faculty and staff members are provided with budget request worksheets as a part of the strategic planning process.
    2. Worksheets are completed and returned to the appropriate budget administrators by the end of May.
    3. Budget administrators will review and prioritize requests by June 15th
    4. A meeting involving all budget administrators will be held with the Campus President prior to the end of June for the purpose of determining campus budget priorities.
    5. The Campus President will approve all budgets and notify the Finance Officer
    6. An official budget notification will be provided by the Finance Officer to all budget administrators.  The notification form will describe budget categories and the amount of budget approved for each.
    7. All program budgets will be in place by the beginning of the new fiscal year, July 1st

Cash Handling

  1. It is essential to the institution that procedures be in place to safeguard DXATC cash and cash equivalents. Dual controls shall be implemented in cash handling and fund disbursement to reduce opportunity for fraudulent acts. It is imperative that these procedures be followed. Any cash collection point may be subject to audit by the Cashier, Finance Officer, and/or Independent Auditors.
  2. Unless circumstances make it impossible or highly impractical, all cash should be collected at the Cashier’s office.
    1. The office is under the supervision of the Finance Officer, and must comply with DXATC accounting and audit procedures.
    2. Other cash collection points must be authorized by the Finance Office and comply with the same procedures.
      1. These additional cash collection points are to deposit their collected funds at the Cashier’s office on a daily basis.
  3. The Cashier’s office will not cash checks of any kind.
  4. The Cashiers office or any other cash collection points are not to directly distribute cash to any person, including, but not limited to DXATC employees, students, customers or vendors.
    1. Exception: the cashier may distribute qualified petty cash reimbursements from the designated petty cash fund.
  5. Cash drawers must be balanced with funds accounted for before the close of the business day.
  6. Collected funds must be deposited into the DXATC bank account on a daily basis.  Funds to be deposited shall be stored in the safe.  If the sum of collected cash reaches $5,000, it is to be deposited immediately.  When bank deposits are prepared, the funds should be accounted for in the presence of at least two DXATC employees.  Lockable deposit bags will be obtained and used to transport funds to the bank.  The bag must be locked in the presence of at least two DXATC employees.  No funds except Petty Cash and cash in the drawer sufficient for making change should be held overnight.
  7. A receipt must be provided to each person or entity making a payment to DXATC or any of its departments, programs, or divisions.  The receipt shall be issued at the time of collection.
  8. Petty Cash
    1. A check will be issued that, when cashed, becomes the Petty Cash fund.
    2. The petty cash will be kept in a locked box separate from the cashier’s till in the Finance/Cashier’s Office during business hours and locked in the safe afterward.
    3. The sum of currency, coin and receipts must always equal the authorized petty cash fund amount.
    4. When petty cash is used a Petty Cash slip must be completely filled out and signed by the custodian of the fund and attached to receipt.
    5. Petty cash purchases should not exceed $100.
    6. When the petty cash supply has diminished, the cashier may get it replenished by completing and submitting a request along with copies of all receipts and Petty Cash Slips to the Finance Officer.  A check will be issued to replenish the fund with the next A/P run.
    7. Petty cash must be safeguarded, disbursed and accounted for properly.  Willful misuse or abuse may result in serious disciplinary action up to the point of dismissal.

Equipment Inventory Control Systems

  1.     These policies are in place to:
    1. Establish general procedures for the control of equipment owned by or in the custody of DXATC.
    2. To satisfy the requirements of the Board of Regents and state government to properly account for equipment.
    3. To satisfy the requirements of the federal government concerning control over government property for which the College is responsible and accountable.
    4. To record and have readily available, pertinent information regarding each item of inventorial equipment throughout its useful life and ultimate disposition.
    5. To provide for the valuation of equipment on the basis of original cost of purchases or at appraised value for gifts.
    6. To insure that equipment items are properly recorded in the fiscal records of the College.
  2.     Definitions
      1. Property - The following words and phrases pertain to property and its definition:
        1. Real Property - Includes the following:
          1. Land (and whatever is erected or growing upon or affixed to land) and right therein.
          2. Ground improvements.
          3. Utility distribution systems.
          4. Buildings or other structures and improvements.
          5. Personal Property - A generic name for any movable item subject to ownership; not real property, butequipment.
      2. Title - Title to or ownership of equipment which is vested in the College whether purchased with departmental funds or other college controlled funds.
      3. Fixed Asset Custodian: The Budget Administrator who is responsible and accountable for the control and maintenance of the equipment.
    1.     Inventorial Equipment
      1. College-owned equipment which meetsany of the following criteria:
        1. Has an acquisition cost of $3000 or more
        2. Is a computer of any value
        3. Is a gift with a value of $500 or more and meets all of the following criteria:
          1. Has a normal life expectancy (useful life) of one year or more.
          2. Is College personal property (free standing).
          3. Has an identity which does not change with use.
      2. Government-owned equipment is equipment which meets the above criteria and/or any other criteria which the government imposes. Government equipment does not lose its identity as personal equipment by reason of affixation to any real property.
      3. Fabricated Property-Inventorial equipment which employees of the College have assembled from finished parts and pieces.
      4. Federal Surplus Equipment - Property which has been screened by all federal agencies and is generally made available to eligible institutions through the Utah State Agency for Surplus Property.
      5. Orphan Equipment - Equipment discovered either by the Purchasing Department or a custodial department, which is not on the current inventory list or directly under the control of the state or federal government.
  3.     Responsibility
    1. The College is responsible for all the equipment to which it holds title. Custodial responsibility for other property rests with the College to the extent that it has explicitly agreed to accept responsibility therefore.
    2. The responsibility for the care and custody of property belongs to the Fixed Asset Custodian. The custodial department provides for the care necessary to maintain the property in the condition received, normal wear expected, in order that the most useful life is secured.
    3. The Finance Officer is responsible for the administration and implementation of the property inventory control system on the campus and other areas under his/her jurisdiction. It is the responsibility of the Finance Officer to:
      1. Formulate and promulgate the general policies and procedures necessary to maintain a uniform equipment control system for all equipment owned by or in the custody of the College.
      2. Direct the maintenance of adequate records of inventorial equipment and in the identification and tagging of equipment.
      3. Inform fixed asset custodiansof their obligations for the care, safekeeping, and disposal of the inventorial equipment under the control of their respective department or units.
      4. Insure that adequate protection is provided for equipment owned by the College and for equipment items in its custody. Provide insurance for equipment owned by the college and for items in its custody.
  4.     Valuations And Recording Of Acquisitions
    1. Acquired by Purchase Order. Acquisitions of inventorial equipment acquired by purchase order are recorded on the computerized fixed asset system and valued at cost.
    2. Acquired by Gift. Acquisitions of inventorial equipment acquired by gift are recorded on the fixed asset system, and tracked for a minimum of two years.
      1. The date the gift is accepted is considered the date of acquisition. The value of the gift is the appraised value of the gift at the date of acquisition.
      2. If no appraisal is available on a gift, the department receiving the gift will be responsible to see that the value of the gift is established.
    3. Fabricated Property. Inventorial equipment which has been fabricated by a department is reported to the Purchasing Department by the using department. The using department will provide, within 30 days, the date of fabrication, the description, name of the item, established value, and any other information which may be required.
    4. Orphan Equipment. Orphan equipment is recorded and assigned to the Using or Custodial Department. The value is estimated by the Purchasing Department. The date found is used as the date received.
    5. Surplus Property. All equipment items acquired from the State Agency for Surplus Property, and assessed by that organization at a fair value of $3000 or more, are recorded on inventory records. The department acquiring surplus property is to report this to the Purchasing Department and provide, within 30 days, the date of acquisition, the description, name of the item, established value, and any other information which may be required.
  5.     Identification Of Property
    1. Identification of College Property. All inventorial property is identified and marked with a property identification number.
      1. It shall remain so identified as long as it is in the custody, possession, or control of the College. Such markings and identification are removed or obliterated from the property only when sold, scrapped, or otherwise disposed of.
      2. Assigned identification numbers are recorded on the fixed asset system.
    2. Attachment of Identification Number. The application of the identification number to the equipment is the responsibility of the Purchasing Department. However, this function may be delegated to a campus department where deemed necessary.
      1. The identification number is applied to the actual unit unless its size or nature makes it impractical.
      2. A tag bearing the property number may be affixed to the equipment adjacent to the manufacturer's name plate or in an easily seen position.
      3. If additional identification is required by the using department, it shall be applied in a manner that will avoid confusion with the property identification number.
      4. Should the identification number be accidentally or mistakenly obliterated, defaced, or removed, the equipment shall be marked again with the original number.
  6.     Physical Inventories
    1. Each year, the Finance Office will send to the custodians a computer listing of all equipment items as reflected on the official inventory records of the College.
    2. The Custodial Department will arrange, upon receipt of the computer listing, to take a physical inventory.
      1. The Fixed Asset custodian will verify the physical presence of all assets on the provided list. Information on each column will be checked for accuracy. All items which are correct as they appear will be marked "OK as is."
      2. Changes to description, model or serial number, building or room number may be written on the computer listing.
      3. Changes of custodian or disposal of equipment by any means must be made on the "Inventoried Equipment Change Form." A list of all authorized custodians is available from the Purchasing Department.
      4. Verified changes will be entered into the computerized fixed asset system by the Purchasing Department.
    3. The Finance Department will verify the accuracy of the department's equipment inventory by physical inventory checks on the basis of statistical sampling. If it is apparent that there are some difficulties or gross discrepancies, the Finance Department will arrange for a complete physical inventory of that department as soon as possible.
    4. A physical inventory audit of all equipment of the College as reflected on the fixed asset systemwill be made on a continuing basis by the Finance Officer so that a complete audit of equipment will be accomplished at least every two years.  Physical audits may also be made more frequently at the discretion of the Finance Officer.
  7.     Disposal or Transfer of College Equipment.
    1. When equipment disposal is approved, the custodian will notify the Purchasing in writing. The custodian will then remove the inventory identification label, attach it to the notification and forward it to the Finance Department for final disposal.
    2. Disposition of any DXATC equipment with an established value of $200 must be approved through the Finance Office. Normally, disposal is accomplished by sending equipment to a surplus sale. Departments desiring to dispose of equipment by any method must request approval in writing which includes the current custodian’s signature.
    3. Transfers of equipment from one custodian to another are to be recorded in writing and signed by both the present and new custodian. The completed form is to be forwarded to the Finance Office within 5 working days.
    4. Trading of equipment for other equipment or services must be approved in writing by the Campus President.

Refund Policy

  1. DXATC follows the refund policy administered and approved by the Utah College of Applied Technology (UCAT) and is as follows:
    1. Open-entry, Open-exit Programs: Students enrolling in regular open-entry/open-exit programs pay only for the number of hours for which they enroll. Any remaining tuition balance for these programs will be refunded within 30 days (1) of the last day of attendance if written notification has been provided to the institution by the students, or (2) from the date the institution terminates the student or determines withdrawal by the student.
    2. Defined-entry, Defined-exit Programs: Refunds for classes and programs that operate with a fixed beginning and ending date, and for which a flat tuition rate is charged in advance, will be made as follows: 100% prior to beginning of class; 50% after the beginning of class up to the point that 33% of the instruction has occurred, and 0% thereafter, with exceptions to be granted on a case-by-case basis by campus officials.
    3. Refunds for Classes or Programs Canceled by the Institution: One hundred percent of the tuition and fees that are collected in advance of the start date of a class or program will be refunded within thirty days of the planned start date if the class or programs is canceled by the institution.
    4. Refunds for Students Enrolled Prior to Visiting the Institution: Students who have not visited UCAT campuses prior to enrollment will have the opportunity to withdraw without penalty within three days following attendance at a regularly scheduled orientation or following a tour of the facilities and inspection of the equipment.

Addendum ‘A’

Pertaining to DXATC Travel Policy    Per Diem Meal Rates

  1. Breakfast: $9.00
  2. Lunch: $11.00
  3. Dinner: $16.00
  • Mileage for personal vehicle use:  $0.505/mile
  • Lodging with relatives: $20.00/night
  • Maximum Allowance for Gratuities:
    Meals & Taxi service: 20% of charges.
    Maid service, shuttle bus drivers, bellhops, etc: $5.00/occurance



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