Section 4.0, Student Affairs, covers aspects of student affairs at all University System of Georgia (USG) institutions, including the general policy, undergraduate admissions, student residency, Regents’ financial assistance, athletics, discipline of students, appeals, immunizations, and the University System Student Advisory Council. Information and services related to ADA compliance at ABAC are provided through the Student Development Center.

ABAC 4.10 Student Code of Conduct and Disciplinary Procedures

See the ABAC Student Code of Conduct and Policy & Programs to Prevent Drug & Alcohol Abuse for rules and regulations adopted by ABAC in compliance with the Drug-Free Postsecondary Education Act of 1990.

ABAC 4.10.1  Student Role in Institutional Decision Making

Students at ABAC have the right to participate in policy making of the Institution. There is a minimum of two student members on all College committees that make decisions related to students. These students, appointed by the president of the SGA, have full voting rights in the individual committees and are encouraged to be active participants. Student representatives on each committee are encouraged to report all committee actions and considerations to the Student Senate. This right is subject to supervision as delineated in the Policies of the Board of Regents of the University System of Georgia and the policies of this institution.

ABAC 4.10.3  Policies and Procedures Governing Student Activity and Other Mandatory Student Fees 

The College policy on the collection and use of mandatory student fees can be found in Section 7.3.2.1.  Procedures for the administration of student activity fees can be found in the Student Handbook.

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SECTION 5:  PUBLIC SERVICE AND BUSINESS OUTREACH

ABAC 5.4.4 Public Service and Business Outreach  

The Public Service & Business Outreach Center is an umbrella term that covers multiple types of community outreach effors.

Such outreach effors perfomed by multiple units of the institution and include, but are not limited to: (1) seminars and/or short courses; (2) professional certification classes; (3) customized classes for business/industry; (4) enrichment programs for local youth to include camps; (5) conferences and meetings. Most of these efforts are coordinated by the Schools of the College. For more information, contact the Office of Academic Affairs.

ABAC 5.4.5 Arts Connection

The>mission of ABAC’s Arts Connection is to make the arts available, accessible and affordable to people of all ages and from all walks of life in a multi-county area of rural South Georgia. Through a network of community-based arts agencies, the AC develops performances, exhibits, arts festivals, artists-in-residence, public art projects, arts in the schools, and programs for at-risk youth. The AC also helps communities design arts facilities and restore historic buildings as cultural centers. The Arts Connection functions under the leadership of Vice President for External Affairs and Advancement.

ABAC 5.4.4.1 Co-Listing of Credit/Non-Credit Classes

Co-listed courses are college credit courses offered for CEU credit. These courses are offered on a space available basis after students taking the course for academic credit have registered. Individuals who enroll in co-listed courses must sign a waiver stating that no academic credit can be received for the class. CEU credit will be awarded by the Public Service & Business Outreach Center upon successful course completion; however, CEUs can never be converted to academic hours.

In order to register for an academic class as a non-credit student: 1) student must meet the prerequisites for the class; 2) registration is on a space-available basis after all credit students have been placed; 3) registration and fees are handled through the Public Service & Business Outreach Center; 4) student will sign a waiver stating that no academic credit can be received for classes. CEU credit will be awarded upon completion; however, CEUs can never be converted to academic hours; and 5) individual course requirements will be the same for credit and non-credit students.

ABAC 5.4.5 Arts Connection

The mission of ABAC’s Arts Connection is to make the arts available, accessible and affordable to people of all ages and from all walks of life in a multi-county area of rural South Georgia. Through a network of community-based arts agencies, the AC develops performances, exhibits, arts festivals, artists-in-residence, public art projects, arts in the schools, and programs for at-risk youth. The AC also helps communities design arts facilities and restore historic buildings as cultural centers. The Arts Connection functions under the leadership of Vice President for External Affairs and Advancement.

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SECTION 7:  FINANCE AND BUSINESS

Section 7.0, Finance and Business, covers all aspects of finance and business activities at all University System of Georgia (USG institutions, including the general policy, the USG budget, tuition and fees, private donations to the USG and its institutions, fund management, travel, purchasing, insurance, contracts, auditing, miscellaneous, information security policy, the Board of Regents’ Retiree Health Benefit Fund investment policy, and identity theft.

ABAC 7.2.2.1 Auxiliary Services

Auxiliary Services are under the direct supervision and management of the Vice President for Planning and Operations. These offices provide auxiliary support services to students, faculty, and staff members of the College, while serving the general public incidentally. Board of Regents Policy requires that Auxiliary Services be totally self-supporting; thus, no State funds are allocated to them in any way. In accordance with this policy and based upon the square footage of space occupied, Auxiliary Services at Abraham Baldwin Agricultural College are charged a percentage of plant operations and maintenance costs and other indirect operating costs of the College. These areas are subject to all rules, regulations, policies and procedures of the University System of Georgia.

Purpose

Auxiliary Services, through effective management and prudent procurement functions, are committed to providing optimum user products and services at the lowest possible cost, while maintaining quality, value, and attentive, courteous service.

Organization and Function

Although the kinds and scope of auxiliary services may vary according to need, currently those at Abraham Baldwin Agricultural College include the Bookstore, Food Services, and Vending Services. The organizational charts for Planning and Operations display the organizational structure for Auxiliary Services.

Bookstore

The ABAC Bookstore provides for purchase of required course materials and classroom items; supplemental materials; computer supplies; academic software; learning aids; calculators; and general school supplies. The Bookstore also stocks College apparel, mementos and souvenirs, consumer electronics, and food and drinks.

Mission

The mission of the Abraham Baldwin Agricultural College Bookstore is to support the academic and administrative goals of Abraham Baldwin Agricultural College. As an Auxiliary Services entity it exists to provide a source of materials and services required by the various academic and administrative functions of the College. It exists to provide exemplary customer service to students, faculty, administrative staff and others it serves. The role of this Auxiliary Service is to provide appropriate goods and services at reasonable and competitive prices; to help develop and maintain an effective learning environment; to reflect an institutional image of competence and quality; to encourage cooperative relations within the College community; to provide advice, services and resources that are appropriate to educational needs; to generate income that can augment College resources; to contribute to the strengthening of College identity; and to acknowledge and support the cultural diversity of the College. In executing this role, the Bookstore is committed to effective leadership and management, high quality of innovation, and a projection of an image of dignity and service.

General Statement of Policy

Books and merchandise are selected in support of the basic mission, with appropriateness, quality, demand and need being the primary considerations. To the degree possible, merchandise is sold at the lowest prices consistent with:

Providing first for the operating budget needs, capital equipment replacement reserves and liquidity of a solvent retailing organization through retained earnings; and then for a source of income that can augment College resources in appropriate areas,

The ability to secure favorable pricing through judicious buying and inventory management,

Providing the best possible quality merchandise and service of the highest order consistent with the quality of the College and the needs and demands of the College community, and

Not knowingly participating in, indeed, taking steps to avoid, any predatory practices by selling inferior or unsafe merchandise, or in unfair pricing structures.

Customer Service

Philosophy The Abraham Baldwin Agricultural College Bookstore is dedicated to providing excellent service to the Students, Faculty, and Staff of Abraham Baldwin Agricultural College.

Treat all customers with courtesy, dignity, and respect Provide timely, efficient, effective services Provide clear and easily understood communications Establish partnerships with our customers to improve services Provide our employees with the training and resources necessary to ensure their success in customer service.

Employee Standards

Equal Employment Opportunity and Affirmative Action Abraham Baldwin Agricultural College's Office of Human Resources publishes, distributes, and oversees the College's plans, policies, and procedures documents relating to Equal Employment Opportunity and Affirmative Action. The Bookstore is committed to full application and support of all such plans, policies, and procedures.

Sexual Harassment The Bookstore will vigorously enforce the College's published policy in this matter. Sexual harassment of any kind will not be tolerated.

Work Schedule

A full work week for employees of the Bookstore consists of forty (40) hours per week. Normally, the Bookstore (both Tifton and Moultrie campuses) is open Monday through Thursday from 8:00 a.m. to 5:30 p.m. and Friday from 8:00 a.m. to 3:00 p.m. Prior to and between semesters, during College holiday periods, and for special circumstances such as inventory, the Bookstore may publish and abide by special hours for operations. During certain special events, the Bookstore may open at certain additional times.

The following policies apply to all employees:

-Employees are expected to be at their work stations and working by the start of their assigned shifts.

-Employees are expected to remain for the duration of their shifts, or until relieved by replacements or store closing.

-There is to be no deviation from work schedules without prior approval from Bookstore Management or their designee.

Because the Bookstore offers its customers continuous service from open to close, lunch breaks must be staggered. Bookstore Management will coordinate schedules and approve all such lunch periods.

During the registration period at the beginning of each academic term or semester when the store is heavily trafficked with students buying books and supplies, the Bookstore will usually schedule additional workers, and will extend the hours of operations. Thus, the following policies apply:

With rare exceptions, annual leave cannot be granted during the rush periods (term openings, heavy book delivery and stocking, inventories, buyback, etc.).

Some overtime hours may be required.

Lunch periods may be shortened or rescheduled.

Announcement of the dates for such rush periods and the resulting schedule changes will be made well in advance so that employees can arrange to comply fully with the schedule requirements.

Employees are scheduled to work specific hours to meet established objectives and the service needs of our clientele. The College's policies and procedures concerning tardiness and all forms of absenteeism will be strictly enforced, to include appropriate progressive discipline.

Appropriate Dress Appropriate dress, good grooming, and good personal hygiene are essential to providing customer service commensurate with the Bookstore's mission. The following policies apply:

All employees are expected to be clean and well groomed at all times. Career employees should dress as professionals. Employees should dress accordingly based on duties for the day. Comfortable shoes are encouraged during Book Rush and buyback periods. Student employees may wear jeans and tennis shoes if they are clean and in good condition.

NOTE: The above items are guidelines. In questionable cases, Bookstore Management will decide what constitutes appropriate and inappropriate dress.

Smoking Smoking is governed by statewide laws and College policies furnished to all College employees.

Visitors All employees are required to strictly limit personal visits to a minimum.

Telephone Bookstore telephones are provided for official College business only. They are vital and necessary to the efficient operations of the business. Incoming and outgoing personal calls are discouraged, except in case of an emergency. In no case should personal long distance calls be made and charged to the Bookstore telephones.

Professional Development Bookstore Management will maintain a program for the professional development of the Bookstore staff. Each employee will be trained in safety procedures, the location of emergency equipment and the proper procedures for reporting safety violations.

Any other employment, either for the College or for others must be reported to Bookstore Management at time of initial employment or at any other time when an employee engages in such other employment. In any situation where the other employment could create an actual, potential, or perceived conflict in the employee's obligation to the Bookstore employment and his or her private interests, or whenever such other employment is closely related to his Bookstore employment so as to create actual, potential, or perceived opportunities for improprieties (misuse of College personnel, equipment, supplies, etc.), the employee may be asked to take measures to eliminate this conflict. If necessary the employee may be asked to: (1) present substantial evidence that no actual, potential, or perceived conflict of interest exists; (2) cease the other employment; (3) seek other employment; or (4) a combination of these measures.

Abraham Baldwin Agricultural College demands high standards of ethics in the buying of merchandise, goods, and services for resale or other use by the Bookstore. It is understood and required that all employees (buyers in particular) transact business prudently and not profit personally by virtue of employment at the Bookstore. Anything of value acquired is the property of Abraham Baldwin Agricultural College and/or the Bookstore who financed the purchase.

The following are specific prohibitions (not all inclusive):

Employees are forbidden to participate in any transaction between the store and a business in which the employee has an interest;

Employees are forbidden to knowingly receive, accept, or seek (directly or indirectly), any payment, tip, loan, or gift in any way related to the discharge of the employee's duties;

Employees are forbidden to receive compensation (excluding Bookstore wages) because of any transaction; and

Employees are forbidden to accept other employment that might be expected to impair the employee's independent judgment.

Failure to comply with the above will be grounds for disciplinary action including possible dismissal.

ORGANIZATION STRUCTURE The organization charts for the areas of Planning and Operations, displays the reporting structure for accomplishing the above functions and responsibilities of the Book Store.

LOST AND FOUND All articles found by an employee in the Bookstore will be reported to Bookstore Management. Reasonable attempts should be made to identify and contact the owner. Any article which cannot be traced to an owner is kept for a couple of weeks in case owner comes back to claim, but then is discarded appropriately.

HOUSEKEEPING Employees are responsible for the appearance and cleanliness of their desks and work areas. They should ensure that working spaces are kept neatly and orderly arranged, the sales floor is uncluttered, and shelves and display areas are kept free of dust.

ORDERING SUPPLIES, EQUIPMENT OR SERVICES All Bookstore employees must submit a request in writing to Bookstore Manager, before ordering office supplies, equipment, and/or services needed to aid in the performance of their job duties. Under no circumstances will any employee remove merchandise from the retail store stock without first obtaining permission from Bookstore Management or his or her designee.

SALES REPRESENTATIVES All sales representatives without prior appointments will be referred to Bookstore Manager. Care must be taken not to allow such sales representatives to interfere unreasonably with the normal and proper exercise of regularly assigned duties and functions or unreasonably impede customer service.

CONFIDENTIALITY All employees of the Bookstore (full-time, part-time, students, etc.) are involved in work that includes pricing, marking, checking invoices, preparing bills, receipts, etc. for customers. This information, when obtained by someone with a bona fide "need to know" through proper channels, may be considered public information; however, employees are to treat it as confidential.

ORDERING TEXTBOOKS The Textbook category of merchandise includes all required new and used books and any optional or recommended reading materials needed for classes taught at the College. Each Professor provides a list of required texts (or adoptions) for each course to the Division Chair, who reviews, edits and forwards it through appropriate academic channels to the Bookstore for processing.

Policies

A. Textbook Selection

The Bookstore advises Faculty, through appropriate academic channels, of due dates for book and supply requirements to be furnished to the Bookstore. These requirements must include course number, quantity, author, title, edition, ISBN and publisher. Based on the sales history of each title/course, the Bookstore then orders the books. While the Bookstore may be asked to provide information relevant to a particular textbook, including availability, it has no input as to the selection of titles, edition, or number of books selected for a course.

B. Deadlines

Deadlines for ordering textbooks for regular academic semesters are announced via email from the Bookstore. These deadlines must be observed to ensure a high probability of receiving textbooks by the beginning of an academic session.

C. Reference or General Books

The Bookstore will order reference or general books whenever requested by a faculty member. The Bookstore will also stock other reference or general books based on perceived student needs and industry trends as space permits.

D. Special Orders

The Bookstore will place special orders for books and other items for College staff, faculty, students, or individuals in the community. An appropriate, nonrefundable deposit will be required before issuance of a purchase order. Occasionally, prepayment is required for a special order.

E. Moultrie

The Bookstore in Tifton will requisition books for the Moultrie campus at the same time as the main campus books. The Bookstore is responsible for ordering the books as well as delivering the books to the Moultrie campus either via a Bookstore employee or campus courier.

Procedures A. Ordering Textbooks

As Textbook Requisitions are received, the Bookstore Manager will review them for accuracy of information and compliance with policies and procedures. Attempts to obtain used books as appropriate should be exhausted before ordering new books directly from the publisher. The Bookstore reserves the right to adjust orders up or down based upon sales history of the course, the textbook, and the instructor. All Purchase Orders must be issued via the Bookstore’s Inventory Control System (ICS).

B. Ordering General and Reference Books

General and reference books may be ordered at the request of a Faculty Member or at the discretion of the Bookstore Manager based on the perceived needs of students and on current trends. All Purchase Orders must be issued via the ICS.

C. Special Orders

The procedures for this type of order are the same as for General and Reference Books, Section 1004.1102, B. above, except that prepayment is occasionally required. When the special order arrives, the customer will be notified. If the Bookstore is unable to obtain the ordered item, the prepaid amount will be refunded in full.

GENERAL MERCHANDISE The Abraham Baldwin Agricultural College Bookstore stocks such school supplies as pens, pencils, notebooks, filler paper, calculators, and other general supplies. The bookstore also stocks, computer supplies, software, and consumer electronics. The items and quantity of items ordered should be based firstly on prior sales and secondly on the buyer’s best prudent judgment with input the other staff.

PRICING In order to operate the Bookstore without sustaining a financial loss, a retail margin is used to determine the selling price of merchandise. The Bookstore's retail price is based on the actual amount the Bookstore is charged for an item. If a publisher, wholesaler, or distributor increases the Bookstore’s cost, the Bookstore must adjust accordingly.

Textbooks New textbooks are generally acquired directly from the book’s publisher, though alternate means are sometimes employed if a favorable price can be obtained. Most new textbooks are sold to the Bookstore at net cost and usually produce a 25% margin.

The College contracts with a vendor that buys and sells used textbooks. The vendor is solely responsible for setting prices for these books, but regardless of cost, the Bookstore offers used books for resale at 25% off of the new book’s retail price, making the margin on used books variable. Whenever possible, the Bookstore obtains its stock of used books from students during book buyback which occurs several times in any given year. Prices paid to students for their books are generally half of the book’s retail price, though several factors may affect the price paid to be higher or lower than half of retail. Generally, to ensure that students receive the most up to date information, and because older editions have little to no resale value for the Student and can be difficult for the Bookstore to obtain in quantity, the Abraham Baldwin Agricultural College Bookstore recommends that current and/or new editions be utilized whenever possible. If a Faculty Member requests an old edition for a class, the Bookstore will attempt to supply that book, if it is available in sufficient quantities.

 1004.1302 Trade or General Books

Books classified as trade or general books are sold at the suggested retail price and usually produce 40% profit margin.

General Merchandise (Supplies and Soft Goods) Normally, these items produce an average of 40% profit margin. For some items, like computer products, the margin may be significantly less. For other items, especially those in high demand or those that have been obtained at better pricing due to purchase volume, the margin may be somewhat more.

DESK COPIES Desk copies (complimentary or examination copies) of textbooks are usually available to instructors through the publisher. Generally, these desk copies must be requested by Faculty themselves on division letterhead as the Bookstore is precluded by most publishers from requesting desk copies.

RECEIVING MERCHANDISE

Policy All merchandise is received in the Bookstore from Physical Plant Central Receiving, UPS, Fed Ex, or by freight line truck. All delivered boxes and/or items are to be checked and signed for by an employee of the Bookstore.

Procedures

A. All cartons or containers should be visually inspected for damage. This should be done before signing for receipt of the shipment. If damage is discovered, it should be noted on the shipping document.

B. The carton identified as containing the packing slip should be opened first. The packing slip should be identified and matched with the corresponding receiving copy of the purchase order. If a packing slip/invoice is not found, the receiving copy of the purchase order should be used to verify the order. The order should be inspected, counted, and verified against both the packing slip/invoice and the purchase order. Correct items, quantity received, price discounts, etc. should be verified. Accuracy is very important when receiving products into inventory.

C. The individual receiving the shipment should initial and date the packing slip. Any discrepancy should be noted.

D. If the order is correct, complete, and in proper condition, the packing slip should be matched to an invoice and be processed for payment.

E. If the order is incomplete due to shortage, shipping error, damage, etc. or is incorrect for any other reason, the packing slip must be held until order is complete, and the vendor must be immediately notified of any shortage so that they can rectify the problem.

PROCESSING INVOICES AND CREDIT MEMOS

Policy Payment for merchandise for resale or for use by the Bookstore may be processed only with an original invoice. Payment cannot be made from a statement, although a statement may be used to verify that all invoices have been received during a specific period. Payment of invoices and reconciliation of credits should be processed carefully to ensure the Bookstore neither pays too much nor receives too little credit. Credit memos have the same value as money and should be treated accordingly.

Procedures

A. To verify that all merchandise was received and that everything is in order for payment, an invoice is matched with the corresponding packing slip/receiving document and the purchase order. If the packing slip/receiving document does not match, the Publisher should be contacted immediately.

Credits are matched with return/charge back forms to ascertain completeness, correctness, and accuracy. If the credit memo does not match the credit request, the vendor should be contacted immediately

B. If everything is in order for payment, a copy of any invoice and/or credit memo is forwarded to the Business Office for payment. An Excel spreadsheet summary of invoices and credits is also sent with copies and dated. The Bookstore Accounting Clerk also keeps copies of these items for future reference if necessary.

SELLING NON-RETURNABLE BOOKS TO WHOLESALERS On occasion, the bookstore will be left with unsold copies of textbooks which are no longer returnable to their vendor. When this situation occurs, the bookstore tries to offset some of its losses by selling the book to a wholesaler at wholesaler price (generally 30 – 50% less than the amount the bookstore paid for the book).

STUDENT RETURNS AND EXCHANGES

Policy

GENERAL INFORMATION

-Absolutely no refunds or exchanges are accepted without an original ABAC Bookstore cash register receipt. No exceptions can be made. Copies are not accepted. For online purchases from the ABAC Bookstore’s website, an online confirmation slip or the packing list included with a textbook order may serve as a receipt.

-All returns are subject to management’s scrutiny. The Abraham Baldwin Agricultural College Bookstore reserves the right to refuse any item for refund. TEXTBOOK REFUNDS

-For full semester classes, you may receive a refund for any reason for the first five business days of the semester. The receipt date must indicate the books were purchased for the current semester. All textbook sales occurring after the first five business days of the semester are final. For summer, short semester and/or session classes, all returns must be accompanied by a drop slip and will only be accepted the first three business days of the session. The receipt date must indicate the books were purchased for the current session. All textbook sales occurring after the first three business days of the short semester and/or session are final.

-Books must be returned in the same condition in which is was purchased in for a 100% refund. Books purchased as NEW with writing, highlighting, earmarks, bumped corners, water damage, and pages removed, etc., will be refunded at the same amount as the retail price of the USED textbook. Abraham Baldwin Agricultural College Bookstore reserves the right to refuse any item for refund based on the condition in which the item has been brought back.

-Shrink-wrapped textbooks and shrink-wrapped textbook bundles must be returned unopened in original packaging to receive a 100% refund. Some exceptions are made once there is verification, by a full time staff member, that all pieces are returned and any access codes, where applicable, are unopened.

-Study guides, dictionaries, optional books, and general study aids are not eligible for a refund.

GENERAL MERCHANDISE

-No refund is available for hardware, software, and assorted computer supplies if opened. Exchanges for unopened items are solely at the discretion of the bookstore management. Defective products must be reconciled with manufacturer according to terms of item’s warranty and are not returnable to the store.

- Clothing, supplies, and other forms of general merchandise may be EXCHANGED only. All original hangtags must still be attached to clothing items.

- Candy, drinks, and all health & beauty supplies are not eligible for return or exchange..

Procedures

A. All refunds/exchanges require a cash register receipt as proof of purchase.

B. Bookstore Management or their designee will process the return/exchange via the Point of Sale (POS) system.

C. Items returned will be circled and initialed by cashier on all receipt copies. The amount owed will be given to the customer in the same form in which they originally paid.

METHODS OF PAYMENT

Policy The Abraham Baldwin Agricultural College Bookstore accepts cash, checks, bank charge cards (Visa and MasterCard), and General Dollars on the ABAC Gold card as methods of payment. During certain, limited periods of the year, the Bookstore accepts financial aid credit and third party vouchers.

Procedures A. Personal Checks

1. For students a valid Abraham Baldwin Agricultural College Gold Card is required. Anyone without a valid ID, with the exception of employees of the College, must provide two other forms of ID. If the customer does not have any form of ID, their check cannot be accepted.

2. Checks must be made payable to Abraham Baldwin Agricultural College with correct address, telephone number, name and identification number on the face of the check. The check must be signed by the person whose name appears on the check. Counter checks are not accepted.

3. If the check belongs to someone other than the student (parent, guardian, relative, etc.), the student's name, local address, telephone number, and student ID must also be written on the check.

4. A two-party check will not be accepted. Students attempting to use a two-party check should be referred to the Business Office. Any check made out to any entity other than Abraham Baldwin Agricultural College should be referred to the Business Office.

5. If the check is accepted, it should then be imprinted for deposit the via POS system and inserted in the cash drawer.

B. Travelers’ Checks or Money Orders A traveler's check or money order must be processed in the same manner as a personal check. The customer must have proper identification and endorse it in the presence and view of the cashier. No prior approval is required.

C. Bank Cards (Visa and MasterCard) Customer's bank card must be processed through the POS system. If the back of the card is unsigned, the cashier should ask for the customer’s ID.

The amount of the sale will be entered for authorization. Upon authorization, the register will print the charge form. The customer must sign the charge slip. The signed copy, after the signature is compared with the back of the card, will be inserted in the cash drawer, and the customer will be given their receipt. A third receipt copy is also printed and kept for the Bookstore’s file for future reference if needed.

SALES TRANSACTIONS AND SECURITY

Register Unlocked and Unattended An employee should never leave his or her register unlocked and unattended. If the shift is over and the replacement employee has not arrived, the employee must remain at the register. In the event it is absolutely necessary for the employee to leave, he or she must first notify the Bookstore Manager or other supervisor.

Location of Cash until Transaction Completed Cash tendered should never be put into the cash drawer until the transaction is completed satisfactorily. The money should be left on the ledge above the drawer or across and on top of the drawer (in sight of the customer) to forestall disputes about the amount of cash tendered. The cash tendered should not be easily reached by the customer or any other bystander. The register drawer should be closed after each transaction to avoid theft.

Money to Restock Register or Make Change Money used to restock a register should be issued by Bookstore Management and put immediately into the cash register by the cashier.

Large Bills Bills with a denomination of larger than $10 should be checked for validity using counterfeit markers provided at the register.

Periodic Transfer of Cash to Safe During high volume periods, money (checks, bank cards, etc.) should periodically be removed from the register and deposited in a safe or other designated place. Bookstore Management should be notified of such a situation.

Accuracy Employees should never allow themselves to be rushed, either by a customer or by the formation of a long line. Accuracy is vital, and hurrying through transactions can cause crucial errors. If a long line forms, the employee should summon Bookstore Management who will, if possible, open another line.

Quick-change Artists Employees should be aware of the tactics of quick-change artists (e.g., interrupting and distracting the cashier during a transaction with repeated questions and requests), and how to deal with them (e.g., completing one transaction at a time, always having the money tendered in plain sight, slowing down to ensure accuracy, and if necessary, calling for assistance).

CHARGE SALES TO STUDENTS

Policy Sales may be charged to any valid Student account with available funds via the POS system. The student’s Abraham Baldwin Agricultural College Gold Card must be presented to verify the student’s identity and the credit amount available to the student.

Procedures Students receiving financial aid may charge Bookstore merchandise by presenting their ABAC Gold Card to the cashier. Their account will be verified for funds at that time via the POS/Banner interface. The purchase should then take place via the POS system. The customer should be issued and should retain a copy of the register receipt for his or her records.

CHARGE SALES TO COLLEGE DEPARTMENTS AND DIVISIONS

Policy The Bookstore is authorized to charge purchases made by other College departments or divisions upon request by said department or division

Procedures All sales to departments and divisions must be transmitted through the POS system as a bid or quote. Inventory is not removed at this time but documentation is made. Once funds are received from the department via check or transfer in Peoplesoft, then inventory is adjusted or it is processed through the POS. The department or division representative must sign for their purchase. A copy of the receipt is then given to the purchaser to pass through proper channels as determined by their department or division.

DAILY BALANCING OF CASH Each day the contents of each cash drawer for each sales register will be balanced and total receipts placed in the safe. The revenue is then deposited with the Cashier in the Business Office.

Procedures

A. At the end of each day the contents of the cash drawer will be listed, counted, verified and balanced against a POS generated register report using the Bookstore’s daily transmittal spreadsheet.

B. Each register is then verified by a member of Bookstore Management and all registers are combined together to be deposited with the Business Office. POS reports to verify the deposit are included with the deposit and are also kept filed by date in the Bookstore.

END OF FISCAL YEAR INVENTORY

Policy An inventory will be conducted annually as near to June 30 as possible. Every item for resale in the store must be counted and entered into the Bookstore’s ICS. All items with discrepancy in counts should be recounted to ensure that counts are accurate. Corrected inventory once verified is then downloaded into the Bookstore’s Inventory Control System (ICS). The Moultrie store is pre-counted and recorded on inventory sheets to be scanned the first day of inventory. All discrepancies are then counted/verified by Moultrie employees.

Procedures

A. Prior to the beginning of an inventory, employees will arrange all items neatly and orderly, grouping and blocking all like items to facilitate counting and recording. In doing this, the employees will prepare items to be scanned into the ICS for compiling.

B. All Bookstore personnel will count and indicate quantities counted. The Bookstore Manger and Accounting clerk work together to scan, call out quantities, and record the items using the trakker. An inventory report is printed to check for any obvious inconsistencies; some recounting may be done to assure accuracy.

C. After the count is completed, the cost and retail price are verified for correctness and accuracy.

D. After the inventory has been completed, the Bookstore Manager will spot check for accuracy as well as look at anything that seems really incorrect before final adjustments are made through the POS system.

E. A list of items returned to their vendor but not yet credited is made available.

F. The inventory reports and other accounting reports are used to complete the inventory, the year-end financial statements, and the auditor’s calculation.

DEPARTMENT CATEGORY INVENTORIES

Throughout the year, all department categories such as new and used textbooks or supplies will be counted in the above manner to ensure that ICS stock on hand counts are correct.

PETTY CASH A petty cash fund is authorized for the Bookstore; however, in certain situations, extra cash may be requested and obtained from the Business Office for the exclusive purpose of maintaining adequate change funds for cash drawers. The amount will be specified in the authorizing letter.

STORE SECURITY, LOSS PREVENTION, AND EMERGENCIES

Security and Emergency Telephone Numbers Security and emergency telephone numbers will be posted throughout the Bookstore by all telephones. They are as follows:

Police (Public Safety) – 391-5060

Other Emergency Services - 911

Presence of Security Uniformed security is generally used for asset protection during the book rush occurring during the first week of each new semester as well as during book buyback.

Internal Theft, Shoplifting, and Security Breaches Employees must constantly be on the alert to prevent internal theft, shoplifting, and breaches in security. All Bookstore personnel should be trained on what to look for to identity shoplifters and breaches in security.

Reporting a Shoplifting or Theft To report a shoplifting case, an employee must observe what item is taken and where it was concealed. The employee must keep the suspect in their line of sight from the time the suspect is observed until the supervisor or security personnel are notified. An employee cannot accuse the person of shoplifting or physically touch the person. Instead the employee should ask the suspect to come with him to talk to Bookstore Management. Security camera footage may also be used to identify thieves and/or track their movements throughout the store.

All shoplifters will be prosecuted, including employees who commit internal theft.

Robbery The following are guidelines in case of a robbery:

-Above all, employees must cooperate with the perpetrator. Never question or try to dissuade a robber;

-Give the person exactly what they ask for. Do not offer anything additional;

-Try to note a description. Remember things that distinguish him or her from others, i.e., facial hair, hair color, approximate height, weight, age, and race;

-Listen carefully to what is said and note the person's voice characteristics;

-Note the direction of travel or flight after the confrontation. Do not follow the suspect;

-Notify the Police, Security, and Bookstore Management immediately.

Fire The following policy guidelines relate to preventing fires and what to do if a fire occurs:

-Avoid creation of fire and safety hazards (e.g., empty boxes and equipment left in aisles of sales and/or stock areas).

-All employees during initial employment orientation and periodically thereafter will be familiarized with the location of, and how to use, all fire extinguishers, fire alarms, fire escape measures and routes, and emergency exits.

-When an employee sees smoke or fire, Bookstore Management should be immediately informed. In case of a fire, 911 should be called immediately.

In case of fire drill or an actual fire:

-Ask customers to leave merchandise on the counters and exit the store in a quick and orderly fashion.

-Cashiers should exit their particular register, ensuring it is logged off and locked until the area is again secure.

-See that all disabled employees and customers are assisted in leaving.

-Employees should insure that all customers have exited before exiting the store themselves.

Power Failure The following guidelines should be followed in case of power failure that lasts for more than a few seconds:

-Flashlights designated for this purpose and provided by the Bookstore should immediately be secured, turned on and used to accomplish other actions described in this section.

-All work stations (registers, desks, etc.) should be secured.

-Whenever authorized by Bookstore Management customers will be asked to leave or, if necessary, escorted from the building by employees with flashlights. Customers will be asked to leave on counters or shelves all merchandise not already purchased.

-Employees will observe exits to ensure orderly exiting of customers and to watch for possible shoplifting.

Severe Weather Conditions

Employees of the Bookstore will comply with policies and procedures applicable to all College employees and areas pertaining to severe weather conditions which are available on the ABAC Police Department website.

POLICIES AND PROCEDURES Each employee will be given reasonable paid work time to read manual sections pertaining to the Bookstore - all of Section 1004 of this Manual. Upon the completion of reading, the employee must verbally acknowledge that he or she has read and understood the manual.

FOOD SERVICES Abraham Baldwin Agricultural College contracts the operation of its Cafeteria to a competitively selected food service vendor. This facility serves a variety of meals and snacks. Operating hours vary during the year. Requests for catering services, or items for special events, should be made directly through the Continuing Education Department of the College. All services of the facility may be purchased by Faculty and Staff.

VENDING SERVICES Vending machine operations are a part of Auxiliary Services, under the supervision of the Vice President for Planning and Operations. A competitively selected vendor operates these services on a commission basis. Vending machines are located throughout the campus and provide snacks, soft drinks, juices, and the like. To obtain a refund, when machines fail to render the product or return the money, the user must visit the Bookstore to receive reimbursement. The user should direct complaints to this person so that appropriate individuals can be notified and corrective action taken, when appropriate. Requests for installation or removal of machines or other questions related to vending should be directed to the office of the Vice President for Planning and Operations.

ABAC 7.2.6  Budgets

The Vice President for Planning and Operations has primary responsibility for providing assistance to the President in the preparation and control of College budgets. There is a division of authority and responsibility incorporated into the University System of Georgia policies and procedures concerning the administration of financial resources. The chief executive officer (President) of the College "shall be the executive head of the institution and of all its departments, and shall exercise such supervision and direction as well as promote the efficient operation of the institution". Sole authority and responsibility for the management of financial resources reside with the Vice Chancellor for Planning and Operations and Treasurer of the Board of Regents. The chief business officer of an institution (Vice President for Planning and Operations of Abraham Baldwin Agricultural College), in all financial matters, acts as an agent of the Treasurer of the Board of Regents within authority specifically delegated by the Treasurer. "The Vice Chancellor for Planning and Operations and Treasurer are authorized, with the approval of the Chancellor, to delegate to the chief business officer of any institution the authority to execute any and all documents which may be necessary, required or desirable in order to provide proper fiscal management of funds given to the institution or to the Board of Regents for the benefit of the institution concerned".

The relationship between the President and the Vice President for Planning and Operations (acting as an agent of the Treasurer of the University System of Georgia) in all matters of budget preparation, expenditures and financial management is based on fiduciary principles. The President reports regularly to the Board of Regents, through the Chancellor, on the operation of those aspects of the institution under his control. The Vice President for Planning and Operations, through audits, reports and the PeopleSoft financial accounting and reporting system (directly accessible by the Office of the Treasurer of the Board of Regents) is constantly monitored for compliance with Board of Regents policies and procedures and fiscal accountability.

The Board shall make the allocation of funds to several institutions at the April meeting or the next regular meeting following the approval of the Appropriations Act or as soon thereafter as may be practicable in each year and shall approve the budgets of the institutions and of the office of the Board of Regents at the regular June meeting in each year, or as soon thereafter as may be practicable. (Bylaws, Article VIII)

The Board of Regents shall be the only medium through which all formal requests shall be made for appropriations from the General Assembly and the Governor of the State of Georgia.

For a more detailed overview of the budget process, refer to Section 8 of the Board of Regents Business Procedures Manual.

The Board of Regents Policy Manual, Section 702 sets forth basic budget policies as follows:

"Financial and budgetary procedure for the University System shall divide financing, accounting, and operation of Planning and Operations into two parts: first, educational and general facilities, such as cost of instruction, research, public service, academic support, student services, institutional support, operation and maintenance of plant, and scholarships and fellowships, and such income as student fees, federal grants, endowment income, vocational funds, income from sales, gifts, rentals, and other related items; and, second, auxiliary enterprises, such as dining halls, dormitories, and other related items.

"Educational and General: Under this arrangement, the first division--educational and general facilities--will be financed with income derived under this division and with funds provided by the State. Any savings made in operation of this division shall be expended only at the direction of the Board. The Board shall also consider any loss that may occur in its operation.

"Auxiliary Enterprises: The second division--auxiliary enterprises--shall be placed on a self-supporting basis, and the State will not make an appropriation to finance its operation. Funds collected from these enterprises will be used to provide the best possible services that can be provided for the amount charged without subsidy or support from the funds of the institutions for maintenance and utility services. Accounting records for auxiliary enterprises will be maintained on the full accrual basis of accounting, therefore, funded depreciation will be required for all auxiliary enterprise service equipment, buildings, infrastructure and facilities, and other improvements. The reserve for depreciation will be used for repair and replacement of auxiliary assets according to guidelines provided in Section 15 of the Board of Regents Business Procedures Manual. The funds collected will be left with the institution.

"Operating Budgets: Each institution of the System shall prepare an operating budget for educational and general activities and an operating budget for auxiliary enterprises operations of the institution for the fiscal year within the limit of funds allocated plus estimated internal income of the institution. (BR Policy 702.04) Bonds of public officials authorizing expenditures for any purpose whatsoever that are in excess of budget amounts approved by the Board shall be liable for such unauthorized expenditures. (BR Policy 702.04)

Planning, Development and Administration of Budgets 

The President has sole authority and responsibility for planning, development, and approval of the College budget for transmittal to the Chancellor and Board of Regents, subsequent amendments to that budget, and assurance of the integrity of the administration of the budget to effect the mission of the College. He exercises this authority and responsibility by assignment of certain duties and responsibilities to the Vice President for Planning and Operations.

The College prepares an appropriately detailed annual budget. The two principal categories of budgeting are for Personal Services (salaries, benefits, including student and graduate assistant wages) and Non-Personal Services (travel, operating expenses, and equipment). Each subcategory is further divided into individual line items such as supplies and materials, repairs and maintenance, printing, subscriptions, computer charges, telecommunications, etc.

Each institution submits their original budget for approval by the Board of Regents. The original budget and subsequent amendments serve as the basis upon which institutional financial performance is assessed each year through regular reports to the Board (Section 8.5; Board of Regents Business Procedures Manual).

Budgetary control is the responsibility of the President, assisted by the Vice President for Planning and Operations. Revisions in the budget are made through budget amendments that follow a prescribed approval process. According to University System policy, directives and procedures, the institution maintains a centralized system of budget control, and renders monthly interim budget statements to department heads.

The budget process in the University System of Georgia begins with a legislative request made by the Board of Regents for its institutions. Therefore, before the legislative request by the Board, the Chancellor transmits to the President of each institution instructions for the preparation of budgets. The President, with the assistance of the Vice Presidents, gathers information, including projected enrollment, new program funding requests, and other such information, to assist in the preparation of the College's request for funds. The President presents this information to the Chancellor.

Budget hearings are held in the Spring of each year by the President, the Vice President for Planning and Operations, Vice President for Academic Affairs, and Vice President for External Affairs. Departmental budget managers present their needs and requests for operating funds for the upcoming fiscal year. Upon receipt of the allocation from the Board of Regents, the President, through the vice President for Planning and Operations and the Budget Manager, distributes Personal Service Worksheets to the Departmental Budget Managers. Instructions are given regarding the total percentage of funds available for awarding as salary or wage increases. The Departmental Budget Managers recommend increases, which are then reviewed by the Vice Presidents and President. Final approval for all increases resides with the President.

Based on these modified and/or approved requests, the staff of the Vice President for Planning and Operations prepares a budget plan for the operation of the College from July 1 through June 30 of the succeeding fiscal year. When completed and published, it is forwarded to the Board of Regents over the signature of the President and, once approved, becomes the official budget for the College.

The Comptroller publishes copies of the official budget and distributes copies to each appropriate Administrative Head for all budgets and accounts within his or her area of responsibility. The Comptroller ensures that budget data are keyed into the PeopleSoft financial, budgeting, and human resources systems and any other College subsystems.

Student Activities Budgets. To provide for funds for certain educational, cultural, recreational, or social purposes for the benefit of the College’s students, Abraham Baldwin Agricultural College will, after approval by the Board of Regents, charge mandatory Student Activity Fees. The College will recommend to the Board of Regents the amount of such fees to be charged to the students. When approved by the Board of Regents, such fees are mandatory and all fees collected are subject to the control and audit of the Board of Regents and the provisions of this Manual.

The President and the Vice President for Planning and Operations will annually review the budgets for the proposed use of Student Activity Fees and the President will certify to the Board of Regents that the proposed expenditures for such fees are for educational, cultural, recreational or social purposes for the benefit of the students. All Student Activity Fees collected by the College will be budgeted and administered in accordance with the administrative procedures of this Manual. In addition, the advice and counsel of an advisory committee, (Student Budget Committee) appointed by the President and composed of at least fifty (50) percent students, will be considered in the preparation of budgets and in the use of these funds (BR Policy 704.021). All payments from Student Activity Fee funds will be made by the Vice President for Planning and Operations upon receipt of a properly approved invoice, contract or other such payment document.

Budget Maintenance.  The Office of the Vice President for Planning and Operations will provide monthly Appropriations Ledger History Reports and Budget Progress Reports to each budgetary administrative unit and, through the Director of Budgets and other appropriate staff, will assist Departments, Divisions, and other Units, in interpreting and maintaining each budget account throughout the fiscal year.

Budget Amendments. To amend any part of a Department's/Unit's budget during the fiscal year, a Department/Unit Head or other official responsible for a budgetary unit must prepare and submit to the appropriate Dean, Director or other Administrative Head, a Budget Amendment Request (Letter or Memo). As a minimum this request should include the following for each account for which an amendment is requested:

Account Number

Description,

Amount for each account being amended

Brief justification for the change requested

Upon written approval of the appropriate Department Head, Dean, and/or Vice President the request is routed through channels to the President. When approved by the President (or his Designee), the Vice President for Planning and Operations forwards the request to the Budget Manager, who will review for accuracy of such concerns as account detail, improper cross-funding, policy compliance, and then enter the amendment into the Budget and Accounting Systems. Quarterly amendments are submitted to the Board of Regents by the Comptroller via online spreadsheets. For a detailed overview of this process refer to Section 8.6 of the Board of Regents Business Procedures Manual.

ABAC 7.3.2.1 Student Fees

Student Activity Fees

The President, or his designee, shall appoint a Student Activity Fee Committee (SAFC) consisting of ten (10) persons to include the following: 　

The President of the ABAC Student Government Association (SGA)

Four (4) students to be selected by SGA

One (1) non-student member to be appointed by the Vice President for Planning and Operations

One (1) non-student member to be appointed by the Vice President for Student Affairs

One (1) non-student member to be appointed by the Vice President for Academic Affairs

Two (2) members to be appointed by the President. 　

Responsibilities

The President shall be responsible for appointing and charging the SAFC.

Fee Proposal Process

Once per year, and prior to submission for BOR approval, the SAFC shall provide review, advice and counsel regarding the proposed Student Activity Fee. The Vice President for Planning and Operations and the Vice President for Student Affairs shall be responsible for the timely preparation of the Student Activity Fee proposal. The Vice President for Student Affairs shall be responsible for convening the SAFC and presenting the proposed fees to be considered by the BOR for the coming year.

The student members of the SAFC, under the direction of the Vice President for Student Affairs, shall be responsible for the solicitation of student input prior to the meeting of the SAFC.

The Vice President for Student Affairs shall provide a written report to the President on behalf of the SAFC regarding the proposed Student Activities Fee.

Upon receiving the aforementioned report the President shall present a proposed Student Activity Fee proposal to the Cabinet for consideration. Upon Cabinet approval the Student Activity Fee proposal shall be forwarded to the BOR by the Vice President for Planning and Operations.

Student Activity Fee Allocation Process

The Vice President for Student Affairs shall be responsible for preparation of the Student Activities Budget based upon the anticipated Student Activity Fee revenue, as projected by the Vice President for Planning and Operations. The annual budget shall reflect debits and credits to the Student Activity Reserve Account.

The Vice President for Student Affairs shall establish guidelines and processes for allocation of the Student Activities Budget. Allocation of Student Activity Fees shall be in keeping and support of the mission of the College. Guidelines for the expenditure of these funds shall be in keeping with all College and BOR policy and in keeping with relevant state and federal law. 　

Upon preparation of a preliminary Student Activities Budget, the Vice President for Student Affairs shall convene the SAFC and present the budget for their review, advice and counsel.

The student members of the SAFC, under the direction of the Vice President for Student Affairs, shall be responsible for the solicitation of student input prior to the meeting of the SAFC.

The Vice President for Student Affairs shall provide a written report to the President to include the proposed Student Activities Budget and comments from the SAFC on the budget.

Upon receiving the aforementioned report the President shall present a proposed Student Activity Budget to the Cabinet for consideration. Upon Cabinet approval the Student Activity Budget shall be incorporated into the College budget.

All Additional Mandatory Fees

Additional mandatory fees covered in this policy include:

Intercollegiate athletic fees

Student health service fees

Transportation or parking fees (if the latter are charged to all students)

Technology fees

Facility fees 　

The President, or his designee, shall appoint a Mandatory Fee Committee (MFC) consisting of ten (10) persons to include the following:

The President of the ABAC Student Government Association (SGA)

Four (4) students to be selected by SGA

1 non-student member to be appointed by the Vice President for Planning and Operations

1 non-student member to be appointed by the Vice President for Student Affairs

1 non-student member to be appointed by the Chief Information Officer

1 non-student member to be appointed by the Vice President for Academic Affairs

1 member to be appointed by the President. 　

Responsibilities

The President shall be responsible for appointing and charging the MFC.

Proposal Process for All Additional Mandatory Fee

Once per year, and prior to submission for BOR approval, the MFC shall provide review, advice and counsel regarding the proposed mandatory fees (excluding Student Activity Fees, which will be handled by the Student Activity Fee Committee). The Vice President for Planning and Operations shall be responsible for the timely preparation of the proposed mandatory fees. The Vice President for Planning and Operations shall be responsible for convening the MFC and presenting the proposed fees to be considered by the BOR for the coming year. 　

The student members of the MFC, under the direction of the Vice President for Student Affairs, shall be responsible for the solicitation of student input prior to the meeting of the MFC.

The Vice President for Planning and Operations shall provide a written report to the President on behalf of the MFC regarding the proposed mandatory fees (excluding Student Activity Fees).

Upon receiving the aforementioned report the President shall present the proposed mandatory fees to the Cabinet for consideration. Upon Cabinet approval the mandatory fee proposal shall be forwarded to the BOR by the Vice President for Planning and Operations.

Allocation Process for All Additional Mandatory Fees

The Vice President for Planning and Operations shall be responsible for preparation of budgets resulting from assessment of mandatory (excluding Student Activity Fees, which will be handled by vice President for Student Affairs). Annual mandatory fee budgets shall reflect debits and credits to appropriate reserve accounts.

The Vice President for Planning and Operations, in concert with appropriate persons, shall establish guidelines and processes for the expenditure of mandatory fees in keeping and support of the mission of the College. Guidelines for the expenditure of these funds shall be in keeping with all College and BOR policy and in keeping with relevant state and federal law.

Upon preparation of the mandatory fee budgets, the Vice President for Planning and Operations shall convene the MFC and present the budget(s) for their review, advice and counsel.

The Vice President for Planning and Operations shall provide a written report to the President to include the proposed mandatory fee budgets and comments from the MFC on the budget.

Upon receiving the aforementioned report the President shall present a proposed mandatory fee budgets to the Cabinet for consideration. Upon Cabinet approval the mandatory fee budgets shall be incorporated into the College budget.

ABAC 7.3.6 Student Accounts

The Student Financial Services, which reports to the Vice President for Planning and Operations, is responsible for Student Accounts, including, but not limited to, all accounting functions for student billings, payments, refunds, , and financial aid receipting. The personnel of the Student Financial Services and other Planning and Operations staff assigned on a temporary, as-needed basis, will perform the business and finance functions of Student Accounts during Registration.

The Financial Aid Office, which reports to the Director of Enrollment Services, is responsible for the receipt of applications, processing of applications, determination of eligibility, making of awards, notification of awards, and all other functions concerning Student Financial Aid before, and including, the notification of an award. A clear and distinct delineation of responsibility must be made in this area. The Student Financial Services staff has no formal involvement or responsibility with Student Financial Aid before the actual award of such aid. This is solely the duty, function and responsibility of the Office of Financial Aid. Subsequent to the award the Student Financial Services staff is responsible for setting up accounts receivables; processing all proceeds of awards; issuing bills for student aid, where applicable; making refunds according to requirements of the donor, granting or lending agency, and policies and procedures of the University System of Georgia; performing all accounting and reporting functions for the student aid funds; and administering any other related post award Planning and Operations operations. In the handling of student financial aid, the College must meet all requirements of Federal and State agencies.

STUDENT ACCOUNTS BILLING AND ACCOUNTING The Director of Student Financial Services is responsible for developing systems and procedures to handle student accounts billing and accounting functions, in an accurate, efficient, and timely manner.

INTERNAL OPERATIONS PROCEDURAL GUIDES The Director of Student Financial Services and/or designated members of this Department's staff are responsible for developing and publishing detailed procedural guides and processes for employees of the Department and for those used temporarily for Registration. These guides and instructions and training sessions will be used to train thoroughly its employees in Registration procedures. Such documents and training sessions will cover, but not be limited to, the following:

Establishing student accounts receivables;　

Preparing and processing student bills (and letters);

Processing student payments;

Processing payments for scholarship recipients;

Billing scholarship, grant or loan sources, as required;

Processing refunds for withdrawals, administratively dropped classes; Processing grant-in-aid payments;

Placing Holds on student accounts;

Processing returned checks;

Operating payment stations during registration;

Handling Early Registration procedures;

Invoicing tuition assistance accounts;

Processing adjustments to student accounts (tuition, fines, book charge, and similar charges); and

Collecting short-term emergency loan funds.

REGISTRATION PROCESS The Director of Student Financial Services, with appropriate staff of the Department, will develop Registration procedures in conjunction with appropriate staff of the Academic and Student Affairs Divisions (Enrollment Services, Financial Aid Office, for example). Such procedures, deadlines, and processes will be developed, published and disseminated before the Registration period for academic semesters (when necessary and/or as changes occur) in sufficient time adequately and properly to inform Student's, Faculty and other Administrators involved in, or affected by, Registration so that each will be completely familiar with requirements, and be able to conduct an orderly and efficient process.

FEES Fees are due and payable upon registration. Acceptable payment procedures are based on certain criteria.

DEFERRED FEES For a Student whose fees are guaranteed and will be paid by an outside agency under a document agreement with the College, the College may defer fees up to the amount authorized for a specific academic semester. The College may defer fees up to the amount of aid granted for fees for a specified academic semester for a Student who has an approved College-administered loan or scholarship in process. For a specified academic semester for a foreign Student who has a certificate or other acceptable documented evidence that payment of fees will be made after a statement of charges from the Student has been presented for payment, the College may defer fees up to the limit stated in the certificate or other document. (Board of Regents Policy Manual, Section 704)

TYPES OF FEES Mandatory Fees Mandatory fees are those fees that must be paid by all Students unless waivers are specifically approved by the Board of Regents. There are two categories of mandatory fees:

Fees such as matriculation fees and nonresident tuition mandated by the Board of Regents for all University System students; and

Fees such as activity fees, technology fees and other fees mandated by Abraham Baldwin Agricultural College and approved by the Board of Regents for all Students at the College.

Elective Fees Elective fees are established by the College, approved by the Board of Regents Chancellor (or his or her designee), and paid by Students who elect and/or benefit from the specific services. Examples of elective fees are music fees and liability fees.

PENALTY CHARGES Penalty charges are established to discourage undesirable practices and must be paid according to schedules (College Catalog and Registration procedures, for example) established and published by the College. They are divided into two categories:

Penalty charges approved by the Chancellor or his or her designee for charges such as late registration fees; and

Penalty charges established by the College and approved by the President, for such charges as traffic and parking violations.

FEE WAIVERS The College may waive certain fees only in strict compliance with Board of Regents Policy No. 704.042 and policies published in the College Catalog.

REFUNDS Refunds for Students withdrawing from the College may be made only in the percentages and conditions stated in Board of Regents Policy 704.05 and published in the College Catalog. Refunds of student aid must comply with the requirements of each specific type of aid.

ASSIGNMENT OF STAFF DURING REGISTRATION During Registration, with the approval of the Vice President for Planning and Operations, any employee of the Division of Planning and Operations may be assigned to assist in the timely and efficient registration process by performing duties and responsibilities in addition to those of the employee's regular job.

ABAC 7.4.1. Fundraising and Solicitations

The Abraham Baldwin Agricultural College Office of College Advancement (OCA) is prepared to assist and advise you with fund and friend raising. Our mission is to support the College's efforts to increase private gifts for individual, departmental, and college-wide Programmatic and Non-Programmatic objectives and to provide opportunities for our alumni and friends to be involved.

The Office of College Advancement identifies, cultivates, solicits, and stewards all gifts given to the ABAC Foundation.  To best accomplish this task, the OCA also coordinates proposals and gifts to individuals, corporations, and foundations per the definitions listed below. Our office is also responsible for annual special appeals, including faculty and staff giving efforts.  

All faculty, staff, and student solicitations must be pre-approved by and coordinated through the OCA.  You may contact us at any time for assistance and support of fund and friend raising. 

 ABAC 7.5.6  Cash Receipts

The central point for the receipt of any cash (including coins, currency, checks, money orders, charge card authorizations and any other forms of legal tender) is the Business Office. The Head Cashier reports to the Accounting Manager who reports to the Director, of Business Services/Controller.

SCOPE OF CASH RECEIPTS PROCEDURES This procedure is applicable to all cash receipts for Abraham Baldwin Agricultural College by Departments, Organizational Units and Administrative Offices.

A cash receipt may be one of many forms, among which are coin, currency, checks or credit card receipts. All of these will be referred to as cash throughout this Manual.

The transmittal of cash to the Cashier constitutes a deposit. Any authorized person, office or other entity should deposit cash receipts daily to the cashier at the Business Office unless otherwise directed.

Abraham Baldwin Agricultural College requires that proper controls and safeguards be established at all administrative levels to ensure that cash receipts are protected while in the custody of College personnel.

Unless approved by the Comptroller, (no Department/Unit or individual employee, other than the Cashier, shall engage in the collection of cash receipts. Instead individuals or businesses owing money to the College will be instructed to forward any payments (along with a copy of the College's bill, invoice, letter, and other relevant material) to the Business Office.

In cases where prior approval has been given (Bookstore, Continuing Education, and the like), collections of any cash receipts will be according to instruction and procedures of this Manual and as further detailed by the Director of Business Services or his or her designee.

Questions concerning procedures relating to cash receipts should be directed to the Accounting Manager or Office of the Director of Business Services.

CASH TRANSMITTALS All cash receipts must be deposited with the Business Office. Consistent with internal security, only a few employees of Abraham Baldwin Agricultural College should be involved in receiving or handling cash receipts before or after deposit.

Except for the Vice President for Planning and Operations or his official designee, no Department/Unit or Administrative Office has authority to open an account or deposit College funds in a commercial bank, savings and loan association or any other financial organization or institution. In any such case all accounts with financial organizations or institutions will be according to policies of the Board of Regents, with full knowledge of the Board's Treasurer and Vice Chancellor for Planning and Operations.

All Departments/Units must use a Deposit Transmittal Form developed by the Business Office (Exhibit 400-1) to accompany and record the transfer (deposit) of cash receipts to the Cashier. From this form the Cashier will initiate the accounting entries to record each deposit transaction and issue a computer generated Banner Receipt (Exhibit 400-3 attached) for each Receipt Transmittal. The Banner Receipt should be compared with the Department's/Unit's copy of the Deposit Transmittal form to verify the accuracy of the deposit.

Cash transmittals (deposits) should be personally delivered (not mailed) to the Cashier. The following should be included:

Cash;

Calculator tape of checks, in check sequence, corresponding with the checks total shown on the Deposit Transmittal form. (Checks should be endorsed (stamped) to correspond to the "Payee" on the face of the check. Endorsements should include "For Deposit Only," with the transmitting Department/Unit and Abraham Baldwin Agricultural College identified in the endorsement.); and completed Deposit Transmittal form.

Deposit Transmittal forms should be prepared and signed by the person collecting the cash.

After Cashier’s Receipts have been issued, all supporting documentation (Deposit Transmittal, memoranda, tapes and the like) will be filed, by date and receipt number.

Departments/Units will file, by date, all transmittals and copies of supporting documentation within department files.

CASH SECURITY AND TRANSFER

DIVISION OF RESPONSIBILITY

Division of duties is an essential element in the proper control and security of cash. In Departments/Units having several employees, different persons should be designated and assigned responsibility for receipt of cash, cash deposits and records maintenance of cash transactions so that a single person does not have control over the entire process. This concept should be practiced in the campus Departments/Units as well

as the Business Office. For instance, the functions of collecting specific deposits, i.e., Continuing Education, reconciling that area’s deposits and the preparation of the Deposit Transmittal should be assigned to different employees.

EMPLOYEE TRAINING AND INSTRUCTION

Employees who are responsible for receiving or handling cash, or for recording transactions involving cash, must be instructed precisely as to their duties and responsibilities. It is important that thorough training and instruction be provided each such employee and that policies and procedures be followed closely, so that established controls and security measures will effectively protect both the College and the employee.

PHYSICAL CONTROL OF CASH Proper handling, physical security and adequate records should be stressed with each employee having access to or responsibility for cash or any other College assets (merchandise, supplies, equipment, etc.). Departments/Units receiving cash for Abraham Baldwin Agricultural College are responsible for maintaining security of cash and other property.

The following general guidelines are important and should be known and followed by each employee:

Only authorized persons are permitted in areas where cash is handled;

Doors should always be locked at entrances to areas where cash is handled;

Vault or safe doors will be locked, except during working hours;

Cash registers, drawers, boxes, etc. should not be left unattended unless they are locked;

Employees counting or handling large sums of money should be concealed or moved away from the general public;

Cash must never be left unattended on desk tops; and

Cashiers must endorse checks immediately, or when possible, "For Deposit Only, Abraham Baldwin Agricultural College."

TRANSFER OF CASH Departments/Units receiving cash for Abraham Baldwin Agricultural

College are responsible for maintaining the same degree of security when transferring cash from one location to another as is required when cash is handled by employees at their regular places of employment.

The following general guidelines are imperative and must be followed by each employee:

Currency and coins should never be sent through on-campus or interoffice mail. Cash should be delivered personally or by campus security guards;

When very large sums (registration payment deposits, athletic events receipts, concert receipts, book sales, etc.) are being handled, security of cash must be at a maximum. It may be necessary or desirable to obtain security guards during such periods.

Any Department/Unit transferring cash to other offices or banks must provide adequate security. Depending upon the circumstances, it may use police escort, security guards, or at least two employees to ensure effective security.

Bank transfer bags should be kept locked and opened only by authorized persons. Bags containing cash should be secured and never be left open in vaults or safes.

CASH RECEIPTS PROCESSING

GENERAL The way in which cash is received and the method by which it is processed vary among College units authorized to receive payments. However, all units receiving cash should make daily deposits (whenever activity occurs) and maintain records as required in Section 401 of this Manual.

When a Department/Unit is authorized to receive payments and does not have a cash register system, it must use pre-numbered receipts, or other compensating controls, and total each day's receipts. If more than one employee is involved, it must prepare a daily summary of each employee's transactions, along with a Deposit Transmittal form for total cash transactions. The total must agree with the employees' receipt totals which,

along with adding machine tapes for each batch of checks, must be delivered to the Cashier for deposit.

When a Department/Unit receives cash by mail, it must prepare within twenty-four (24) hours of receipt and deliver to the Cashier a transmittal letter showing the date, payer, amount and nature of the payment. It should use its file copy of the transmittal letter to verify the accuracy of the receipt issued by the Cashier for this payment, and to reconcile recording of the transaction.

If, when balancing daily cash receipts, any overage or shortage occurs during receipt verification, it will be returned to the originating Department for verification and correction. Recurring differences will receive the scrutiny of the Accounting Manager. Such overages and shortages are the responsibility of the Department/Unit Head who should be aware of all balancing items.

Pre-numbered Receipt Books for use by authorized Departments/Units will be provided by the Business Office. A Receipt Book Log will be maintained to record the issue of Receipt Books, including signatures of recipient, date issued, receipt numbers, number of books issued and any other information that will attest to the complete record of issue or turn-in. Receipt books must be issued in sequence and used by the Departments/Units in sequence. Duplicate sets of books will not be issued.

CASH SALES AND OVER-THE-COUNTER RECEIPTS When a Department/Unit uses a cash register to record cash receipts, the daily cash register tapes with totals must agree with the amount deposited as shown on the Deposit Transmittal form (Deposit Slip). The daily record of transactions should be represented by a file of the cash register tapes and copies of Deposit Transmittals.

Any employee receiving cash must make a cash register (computer) recording or prepare a pre-numbered receipt. In very unusual cases where neither is available and when it is not feasible to get the payer to make the payment to the Cashier or whenever cash registers or computers are temporarily inoperable, the employee must prepare a "hand receipt" which should include, as a minimum, the date, payer, amount and nature of the payment.

Each day, employees handling cash receipts must balance cash collected and cash register totals or totals of receipt forms prepared.

Employees handling cash should not perform any accounts receivable functions (unless directed by supervisor).

Employees must retain copies of cash receipt forms in numbered sequence and by date, including the original and copies of any "voided" forms.

CASH PAYMENTS BY INDIVIDUALS - CASHIER At the Cashier, individuals regularly make payments to Abraham Baldwin Agricultural College for miscellaneous charges levied by the College. Examples include tuition and fees, parking fines, graduation fees and accounts receivable.

Individuals can make payment in person to the Cashier or, if accompanied by appropriate billing, notice, statement of charges, etc., by U.S. Mail or Campus Mail. In either case a Cashier computerized, numbered receipt is issued for each payment. See Exhibit 400-2 for a sample copy of such a receipt.

When a payment is presented in person the customer receives his or her copy of the Cashier Receipt.

When a payment is received by mail, the Cashier processes the payment and issues a receipt. A receipt may not be sent to the payer when payment is by a check received through the mail. The payer's canceled check may serve as a receipt.

RETURNED CHECKS The returned check procedure is applicable to any check issued in favor of Abraham Baldwin Agricultural College and returned unpaid by the bank on which it was drawn. College policy requires a diligent and continuing effort to collect unpaid checks.

PROCEDURE

Depository Bank The depository bank of the College's Operating Funds Account returns to the Business Office Department all unpaid checks and charges the amount of unpaid check(s) to the Operating Funds Account.

Business Services Office The Business Services Office will process transactions in the Accounting system to record such unpaid checks and any subsequent entries related to the repayment of unpaid checks and all other related charges. In cases where the unpaid checks are never repaid, the Business Services Office will make necessary accounting entries reflecting this fact.

Control of Unpaid Checks The Head Cashier and to the extent necessary in collections procedures, the Cashier in that division--who has primary responsibility in notifying payer, collecting and recording amounts to cover unpaid checks--retain physical control of all unpaid checks. The Business Services Office prepares and maintains control file of unpaid checks. Returned check file contains the following information:

Name of the drawer of the check, Name of the Payee and/or the endorser, Amount of the check, Date of the check, Bank on which check is drawn, Reason check was returned unpaid Department depositing check, and Record of collection action.

Returned Checks (NSF) on hand will be reviewed monthly and reconciled to the General Ledger listing.

Collection of Unpaid Checks The Cashier is responsible for collecting unpaid checks. Upon receiving a listing and/or the unpaid checks from the Comptroller, the Cashier will notify the drawer of the unpaid check by mail and give notification of the following information:

A check being returned unpaid;

Check number and amount;

Reason given by bank for returning the check unpaid, in the case of Stop Payment or Account Closed.;

Request for payment via cash, credit card, cashier's check or money order due immediately by mail or in person to the Cashier;

The amount(s) of "returned check charge" assessed and any other approved collections costs to be paid by the drawer; and

Final action notification letter will be sent on checks not collected.

Payment of Returned Checks. When payment of the full amount of a Returned Check plus all fees and charges assessed to the drawer has been made, the Cashier will receipt and deposit these funds in accordance with the procedures of the Board of Regents.

Returned Checks of Employees. Whenever an employee of Abraham Baldwin Agricultural College is the drawer of a returned unpaid check and fails to make payments according to procedures outlined in Section 404.0104, the Director of Business Services will implement the same procedures to collect the appropriate funds for non-employees.

CASHIER'S DAILY BALANCING AND DEPOSITS At the end of any day or part of a day during which a Cashier in the Cashier has removed assigned cash from the vault and/or received any payments or transacted any business, the Cashier must count the assigned cash, balance it to the receipts analysis, and prepare a bank deposit according to the following procedures:

A Cashier must prepare, by computer, a Cashier's Daily Report of all transactions. See Exhibit 400-3 for a sample printout;

A Cashier must count and verify the amount of all cash to the Cashier's Daily Activity Report.

A Cashier must ensure that the beginning drawer amount of cash equals the ending amount of cash after the exact amount of the day's receipts has been set aside for deposit to the College's Operating Bank Account; and

A Cashier must enter their daily totals on the Deposit Receipt Report (Green Sheet) to accompany the cash for deposit for the day's receipts. See Exhibit 400-4 for a Sample of this Deposit Receipt Report.

PETTY CASH FUNDS Upon the approval of the Director of Business Services, appropriate funds balance(s) that have been receipted and deposited may be set aside for the purpose of making change or paying small obligations for which the issuance of a formal voucher and check would be impractical. Such funds, in the amount approved by the Director of Business Services, will be known as Petty Cash Fund(s).

Disbursements from such an imprest system are made from time to time as needed and in accordance with provisions of this Manual. At the time of each disbursement, a receipt or petty cash voucher will be obtained and/or prepared. At certain appropriate intervals, or when the Petty Cash Fund is depleted, a voucher with substantiated receipts, petty cash vouchers or other valid documents establishing the use, purpose and nature of the expenditure will be prepared to replenish the Petty Cash Fund by processing a Check Request. A check drawn on the appropriate College account will be issued in accordance with the procedures of this Manual. The Petty Cash custodian will ensure that authorized approvals are included for all documentation.

Documentation for all disbursements from the Petty Cash Fund will be sufficient and complete in accordance with Section 910 of this manual.

Custodians of Petty Cash funds will ensure that these funds are secured, accounted for, and balanced daily in accordance with Section 400 of this Manual.

SURPRISE PETTY CASH COUNTS At least twice each fiscal year, the Head Cashier (or a College employee designated by the Director of Business Services and independent of the custodian of the fund, the cash receipting and posting of the Petty Cash Fund and the processing of reimbursement vouchers) will conduct a surprise count and audit of all Petty Cash Funds. The results of the findings will be reported to the Director of Business Services along with any pertinent recommendations.

UNCOLLECTIBLE ACCOUNTS -- WRITE OFF All uncollectible accounts aged more than one hundred twenty (120) days from the date of the oldest receivable should be reserved as an uncollectible account. This is the time that more intense collection efforts should commence. In order to accomplish the appropriate recognition of revenue, the following method will be used: Allowance for Doubtful Revenue (Contra Revenue) account should be debited and the Allowance for Doubtful Accounts Receivable (Contra Accounts Receivable) account should be credited. This effectively reverses the revenue from current year operations for both budgetary accounting and GAAP reporting. Fund integrity must be maintained at all times with regard to the uncollectible accounts. When accounts receivable of $3,000 or less are ultimately determined uncollectible and due diligence for collection has taken place, the Accounts Receivable account should be credited and the Allowance for Doubtful Accounts Receivable account should be debited. Write-off of receivables is based upon the aggregate of the debtor, not on individual transactions. For a

complete discussion of the processes used to accomplish this, see the processes section of the X drive.

FUNDS MANAGEMENT

BANKING

All depositories, where funds of the College are held in time deposits, will either give a depository bond in some acceptable security company qualified to do business in Georgia, or, in lieu thereof, may deposit with some other depository satisfactory to the Treasurer of the Board of Regents, securities of the following classes, the current market value of which will be equal to or in excess of the amount of the time deposits:

Direct obligations of the United States Government.

Obligations unconditionally guaranteed by the United States government.

Direct obligations of the State of Georgia.

Direct obligations of any political subdivision of the State of Georgia.

Georgia Municipal, County, or State of Georgia Authority Bonds acceptable to the Treasurer of the Board of Regents. (BR Minutes, 1970-71, p. 691)

The President of Abraham Baldwin Agricultural College will determine the bank, or banks, where funds are deposited. He or she will inform the Treasurer of the Board of Regents of the bank, or banks, where funds are deposited. It will be the duty of the Treasurer of the Board to handle all details relative to the bank, or banks, furnishing the required depository protection. (BR Minutes, 1949-50, p.251) The Treasurer of the Board will appoint a person, or persons, at Abraham Baldwin Agricultural College with authority to sign checks drawn on banks where funds of the respective institutions are deposited. Persons so appointed will be authorized to sign any documents that may be required by the banks concerned. (BR Minutes, 1952-53, p.365) The Vice President for Planning and Operations of Abraham Baldwin Agricultural College has been so designated.(BR Policy 705.01)

Funds Deposited in Time Deposits The Board of Regents has delegated to the College the authority to place funds in time deposits ("Cash in Banks — Time Deposits" and/or "Cash in Savings & Loans — Time Deposits"). To comply with Board of Regents’ requirements, the Vice President for Planning and Operations will ensure the following:

That each account is insured and/or is properly collateralized, with such collateralization on record in the Office of the Treasurer of the Board of Regents;

That deposits are made only to banks and/or savings and loans institutions in the State of Georgia; and

That the term of placement of funds will normally be in short periods, but in no case more than twenty-four (24) months.

When the source of funds placed in time deposits is Trust Funds, the period normally should be short-term in anticipation of appropriate placement in longer term permanent type investments which produce not only income but growth. Although the authority for "Investments" of any and all funds resides exclusively with the Treasurer of the Board of Regents, such authority has been delegated to the College’s

Vice President for Planning and Operations. This authority, in writing, must be on file in the Office of the Vice President for Planning and Operations. (See Section 9 Banking and Investments of the BOR Business Procedures Manual)

Recording Interest Earned on N.O.W Accounts and Time Deposits Interest earned from Cash in Banks, both Demand Deposits and Time Deposits, must be recorded in the accounting records according to the guidelines provided below:

Interest earned on CASH IN BANKS - DEMAND DEPOSITS (invested in accounts known as Negotiable Orders of Withdrawal or N.O.W. accounts) is to be budgeted and receipted in Unexpended Plant Funds and, thus, used for Capital Outlay purposes.

Interest earned on CASH IN BANKS - TIME DEPOSITS, in most instances Certificates of Deposit (C.D.), is to be budgeted and receipted as interest earned in the fund group which provides the resource to purchase the certificate(s).

More specifically, resources from Restricted Funds, Auxiliary Enterprises Funds, Loan Funds, Endowment Funds, Unexpended Plant Funds, and Agency Funds — Student Activities, which are invested in Time Deposits, will be recorded so as to appear on the Statement of Net Assets as "Cash and Cash Equivalents".

Internal Control of Electronic (Wire) Transfers To maintain adequate internal control whenever electronic (wire) transfers of funds are used, the following safeguards are to be followed:

Transactions affected by wire transfers-in are to be recognized by the issuance of a receipt and thereby recorded into the accounting records by way of the Cash Receipts Sub-Systems. All such transactions are to be supported by either a validated deposit slip or a properly executed debit memo from the bank.

Wire transfers out are usually initiated by fax, internet or telephone and should be recorded by general journal in a timely manner. These should be supported by full and adequate documentation.

In the absence of the internal audit function the Vice President for Planning and Operations will ensure that, as a part of the bank reconciliation function each month, all wire transfers-in and wire transfers-out are verified. The bank reconciliation function must be performed by an employee who has no duties directly or indirectly related to receiving or disbursing of funds.

INVESTMENTS

In acquiring, investing, reinvesting, exchanging, retaining, selling and managing property for the benefit of another, such executor and/or trustees (Vice President for Planning and Operations and Investment Committee) will exercise the judgment and care under the circumstances then prevailing, which men of prudence, discretion and intelligence exercise in the man-agement of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. Within the limitations of the foregoing standard, such executor and/or trustees are authorized to acquire and retain every kind of property, real, personal or mixed, and every kind of investment, specifically including but not by way of limitation, bonds, debentures, and other corporate obligations, and stocks, preferred or common, which men of prudence, discretion and intelligence acquire or retain for their own account, and within the limitations of the foregoing standard, such executor and/or trustees may retain property properly acquired, without limitation as to time and without regard to its suitability for original purchase. The terms "property" and "investment" as used herein will be deemed to mean and include life insurance, endowment and annuity contracts issued by any insurer authorized to do business in the State of Georgia. (Ga. Laws 1973, P. 718) BR Policy 705.02

Insurance Coverage and Collateral Requirements

Insurance coverage on funds invested in any banking or savings institution by Abraham Baldwin Agricultural College, a unit of the University System, has been set by the Board of Regents at the level of insurance coverage provided by FDIC in any one institution.

Should the College need to invest more than the level of insurance provided by FDIC in any one banking or savings institution, the Vice President for Planning and Operations must require the banking institution to provide collateral by depositing acceptable securities with the Federal Home Loan Bank in Atlanta. The value of these securities must be equal to or in excess of the amount being secured. When requiring such collateral, the banking institution will be instructed by the College’s Vice President for Planning and Operations to advise the Treasurer of the Board of Regents that collateral has been pledged and the nature of such collateral.

Further, the College will advise the Treasurer of the Board of Regents by letter when investments in any one banking institution have exceeded the level of insurance coverage provided by FDIC and, accordingly, that the amounts are in process of being secured.

Investment Objectives It is Abraham Baldwin Agricultural College's goal to be more independent and self-sufficient through the use of investments. To achieve this goal, the primary objective is to preserve the principal and over time increase the inflation-adjusted value of the investable assets. Second, it is expected to provide short-term usable income. Third, long-term growth in both corpus and income is anticipated. These objectives are to be obtained assuming a level of risk consistent with prudent investment practices for such funds. All Endowment and Quasi-Endowment Funds shall be subject to the same high level of prudent investment policy.

Specifically, the total fun annualized rate of return should over rolling five year periods: provide at least a 3.7% premium over the rate of inflation as measured by the Consumer Price Index (CPI); and, outperform an index of balanced fund managers.

Investment Strategy and Manager Evaluation Procedures

The Investment Committee is comprised of five members: the President, Vice President for Planning and Operations, and other members to be appointed at a later date. The members are appointed by the President, in consultation with the vice President for Planning and Operations, and will serve on the Committee initially for a term of three years with annual renewals thereafter.

Investment Committee:  It is the Investment Committee's responsibility to direct the Investment and Spending Policy of the College. They are to oversee and evaluate the performance of invested funds in the attainment of the investment objectives. The committee is authorized to engage investment manager(s) for the direct management of the school's investable assets. By such action, the Committee expects to acquire expertise in investment management which will benefit the school's long term asset growth. Delegation of the college's investable assets to an investment manager will provide continuity to asset management despite periodic personnel changes in the Committee's composition, which will enable emphasis on the achievement of long term objectives rather than short term or ad hoc decisions.

The Investment Committee may, at its discretion, exclude from investment the equities of certain corporations or industries.

Investment Manager:  The investment manager(s) will have discretion with regard to individual asset selection to which the investment policy will serve as a general framework within which the funds are to be managed. It is expected that portfolio variability over time should be minimized through prudent diversification both among individual assets and by asset class.

"Prudent Man" Investing:  The manager shall not assume a speculative position purchasing securities on margin, sell short or trade in commodity futures contracts. The manager shall not purchase lettered stock or private placements. The use of stock options, puts or calls not permitted without the prior written consent of the Investment Committee.

Portfolio Decision:  Where portfolio decisions are outside the portfolio guidelines or are in conflict with stated restrictions, it shall be the responsibility of the investment manager to communicate exceptions to the Investment Committee, or Vice President for Planning and Operations.

Reports - At least quarterly, the manager will provide to the Committee a statement to include:

1. The portfolio composition and performance of each major class of securities including cash equivalents;

2. All transactions in descriptive detail;

3. A disclosure of any deviations from the investment guidelines along with a plan of corrective action;

4. A report of any material changes in policy, objectives, staffing or business conditions of the investment management firm;

5. The listing of individual security holdings and the composition of any commingled or mutual funds (annually).

Invested Assets Review: At least semi-annually, the Investment Committee will evaluate the investment policy and the quality of investment management services. In addition, the investment manager's services will be reviewed for conformity and compliance with the investment policies and guidelines. The committee will review investment reports provided by the investment manager performing an evaluation to include:

The total fund and each asset class.

Measurements of fund through:

nominal, relative and comparative performance,

time weighted returns vs. stock and bond indices,

comparative performance to other similar managers by investment style.

Over a typical market cycle of three to five years, the investment manager is expected to outperform the broad market indices (i.e. S. & P. 500, Shearson Lehman Government/Corporate Bond Index, etc.) and exceed the median of comparable universes.

Results of the Investment Committee's review must be analyzed by the Vice President for Planning and Operations and a written report will be provided semi-annually to the proper federal and state agencies. The committee's report should include any recommendations and corrective actions to be taken, i.e.:

Should the committee deem the fund's performance to be unacceptable, the fund may be placed with an alternative investment management firm, upon approval by the majority of the committee.

A change in the liquidity needs or risk/return expectations require the guidelines and objectives to be reassessed and restated in writing for agreement by the Investment Committee and investment manager.

Investment Procedural Guidelines

The investment policy of the University System and Abraham Baldwin Agricultural College is governed by the "prudent man" rule. The portfolio is to be structured in a manner that will assure investments are made in a prudent fashion, are diversified to minimize the risk of large losses, and principal is preserved, recognizing that changing economic and market conditions may make it impossible for the fund to precisely mirror all aspects of the investment policy at any point in time.

Asset Allocation: The asset allocation policy shall implement the growth objectives for investable assets. The asset allocation in combination with the spending policy shall seek to produce a net inflation adjusted positive total return after spending. The normal asset allocation should be:

Total fund equity exposure should fall within the range of 80% to 40%.

Total fund fixed income exposure should fall within the range of 60% to 20%.

Total fund cash equivalent exposure should fall within the range of 10% to 0% at the discretion of the manager. Deviation/changes from the normal allocation will be made by the investment manager in consultation with the Vice President for Planning and Operations and/or his/her designee(s)

Equity Investments

Philosophy - The management policy to be followed should be disciplined and consistent. It should accommodate all those events and occurrences considered reasonable and probable. Extreme positions and opportunistic styles are not applicable to the philosophy of the College Endowment Fund, which is to invest funds at a prudent level of risk.

Policies for Equity Investments

Industry and company investments shall be based upon demonstrable analysis of prospects from above-average return over a three to five-year period. Emphasis should be placed on growth of earning. Portfolio turnover will be carefully monitored by the Vice President for Planning and Operations.

Investments shall be made in well-seasoned, quality companies with securities which have sufficient market capitalization to enjoy good marketability. No more than 5% (at time of investment) of the net assets of the Endowment Fund shall be invested in securities of issuers having a record of less than three years operations.

Concentration in any single industry and in any company shall not exceed 15% and 5% respectively of the market value of the Endowment Fund at the time of investment, without consultation by the investment manager with the Vice President for Planning and Operations.

All commercial paper must be rated A1/P1.

 Investment portfolio equity holdings diversification - The investment portfolio should be diversified as to equity holdings. The purpose of this diversification is to provide reasonable assurances that no single security or class of securities will have a disproportionate impact on the total portfolio.

Fixed Income Investments

Policies for fixed income securities

a)   Investment is restricted to high-quality instruments rated "A" or better.

b)   Investments shall be limited to government (federal, state or municipal), agency issues and to corporate issuers having a minimum rating of Baa by Moody's and BBB by Standard & Poor's, at the time it is introduced into the portfolio.

c)   The fixed income portfolio shall be diversified between different sectors (Governments, Agencies, Corporates) and different issues within each sector with no one issue comprising more than 10% of the aggregate fixed income portfolio.

d)   A minimum of $50,000,000 outstanding in each debt issue and call protection emphasized to assure stable, current income and marketability.

Cash Equivalent Investments

Policies for Cash Equivalents

1.   The average maturity of cash equivalent investments should generally range from 30 to 120 days.

2.   All certificates of deposit must be with banks or savings and loans insured by the FDIC. Board of Regents' policy will be followed on all deposits of $100,000 or more requiring the amount over $100,000 to be covered by pledged securities.

Investment Income Spending Policy

The policy of Abraham Baldwin Agricultural College concerning the expenditure of income earned on invested assets is governed by the U.S. Department of Education's regulations and guidelines for those restricted endowment funds. Funds will be spent, only as needed, for necessary costs to operate the institution, costs associated with the administration and management of the endowment funds, and costs associated with the buying and selling of securities. Ref. 34 CFR 628 Subpart E. (628.45)

Allowable Rate: Based on the stated objectives, the initial spending level will be 3% - 4% of the investments' market value, not to exceed the maximum allowable limit of "50% of the earned income", to ensure that the purchasing power of the Endowment Fund is preserved and that some real growth is earned.

Rate Increases: Since there may occasionally be situations requiring a higher percentage of spending from investable assets, in order to assure the short term economic viability of the school, the Investment Committee is authorized to increase the spending rate as necessary on a temporary basis. Such an increase should not be undertaken without a clearly documented justifiable need and in no case exceed the maximum allowable spending level.

Financial Emergency: In the case of a financial emergency spending in excess of the maximum allowable level, for endowment funds, may be exceeded ONLY WITH THE PERMISSION OF THE SECRETARY OF THE U.S. DEPARTMENT OF EDUCATION.

Penalties: Penalty for improper use of endowment funds is repayment to the U.S. Department of Education of an amount ranging from 50% of the amount improperly used to termination of the grant with the entire grant amount plus the income earned on it due, as determined by the Secretary. Ref. 34 CFR 628 Subpart E. (628.43)

Policy for Investment Policy Reviews

The Investment Committee shall review the investment and spending policy at least every three years for conformity with the long and short term goals and objectives of the college. Policy recommendations and significant modifications shall be made only upon approval of the President.

SALE OF SECURITIES The Treasurer of the Regents, with the approval of the Chairman or Vice Chairman of the Board, is authorized and empowered to sell and assign, or request payment or reissue of any and all United States securities of any description registered on the books of the Treasury Department, or registered securities with respect to which the Treasury Department acts as the transfer agency, now or hereafter held by Regents of the University System of Georgia as executor, administrator, guardian, trustee, or in any fiduciary capacity whatsoever, and also to sell and assign any such securities which the Board of Regents is, or will be, authorized or empowered to sell and assign as attorney for, or other representative of, the owner thereof.

The Treasurer of the Board, with the approval of the Chairman or Vice Chairman, is authorized and empowered to receive payment for any matured security and to reinvest the principal or the sum total in a like or similar security. The Treasurer will make reports of such transactions to the Board as information. (Board of Regents Policy Manual, Section 705.04)

ACCEPTANCE OF GIFTS, BEQUESTS, AGREEMENTS AND DECLARATIONS OF TRUSTS

The Board of Regents has delegated to the President of Abraham Baldwin Agricultural College the authority to accept gifts, bequests, agreements and declarations of trusts at a dollar value of $100,000 or less. The President and/or the Vice President for Planning and Operations are/is authorized to execute, on behalf of the Board of Regents, any documents necessary to provide proper fiscal management of such gifts. The Vice President for Planning and Operations will prepare and submit, through the President, to the Chancellor of the Board of Regents an annual summary report of each gift, bequest, agreement and/or declaration of trust with an initial value of $10,000 or more.

HANDLING THE SALE OF FUNCTION TICKETS The Student Life Office, in the handling and sale of tickets to concerts and other programs, will follow the provisions of this Manual (Section 400) pertaining to receipting and accounting for and the security of cash. All tickets should be numbered and accounted for just as if they were cash. The Business Office will provide appropriate forms to facilitate the audit and accounting for such receipts and tickets.

GUARANTEED TUITION APPEAL Abraham Baldwin Agricultural College students may appeal their guaranteed tuition rate classification by submitting a written letter of appeal to the Vice President for Planning and Operations. When considering appeals, the guaranteed tuition policy of the Board of Regents will be strictly adhered to except in circumstances of military deployment. Appeals which include documented military deployment may be approved for additional periods at the guaranteed rate. The Vice President for Planning and Operations is the final authority for reviewing the appeal.

ABAC 7.6.1  Expenditure of Funds