SECTION C: BUSINESS AND SUPPORT SERVICES
- SECTION CA | Appropriations and Revenue Sources
- SECTION CAA | Appropriations
- SECTION CAB | Bond Issue
- SECTION CAC | Time Warrants
- SECTION CAD | Certificates of Indebtedness
- SECTION CAE | Loans and Notes
- SECTION CAF | Ad Valorem Taxes
- SECTION CAG | Investments
- SECTION CAH | Sale, Trade or Lease of College Property
- SECTION CAH.1 | Sale, Trade or Lease of College Property
- SECTION CAI | Grants, Funds and Donations
- SECTION CAJ | Rentals and Service Charges
- SECTION CB | Depository of Funds
- SECTION CC | Annual Operating Budget
- SECTION CD | Accounting
- SECTION CD.1 | Accounting
- SECTION CD.2 | Cash Handling Procedures
- SECTION CD.3 | Fixed Assets
- SECTION CD.4 | Financial Reports and Statements
- SECTION CD.5 | Accounting Inventories
- SECTION CD.6 | Accounting Audits
- SECTION CD.7 | Accountability
- SECTON CD.8 | Travel Procedures
- SECTION CD.9 | Taxation of Gifts, Prizes, and Awards to Employees
- SECTION CE | Purchasing and Acquisitions
- SECTION CF | Safety Program
- SECTION CG | Site Management
- SECTION CH | Equipment, Supply and Records Management
- SECTION CI | Transportation Management
- SECTION CJ | Insurance and Annuities
- SECTION CK | Facilities Planning and Standards
- SECTION CL | College District Auxiliary Enterprises
- SECTION CM | Technology Resources
- SECTION CN | Information Security
- SECTION CO | Intellectual Property
BUSINESS AND SUPPORT SERVICES
The State Comptroller and the Coordinating Board jointly shall prescribe and periodically update a uniform system of financial accounting and reporting for institutions of higher education, including definitions of the elements of cost on the basis of which appropriations shall be made and financial records shall be maintained. The Coordinating Board may require institutions to report additional financial information as the Coordinating Board considers necessary. The accounts of Navarro College shall be maintained and audited in accordance with the approved reporting system.
COLLECTION OF DELINQUENT OBLIGATIONS
A third party collection company may be used to attempt collection of returned checks for up to 90 days. If the third party is unsuccessful in collection payment the check is returned to the College at which time the necessary paper work will be completed and turn the check over to the District Attorney’s Office.
This section applies to unclaimed property (outstanding checks) that has been abandoned by the owner for a period of time ranging from one year to 15 years. The College adheres to Title 6 of the Texas Property Code which governs the State of Texas Unclaimed Property Program
To prevent unclaimed property, the outstanding checks are reviewed semi-annually and those over 360 days old are added to the unclaimed property log to attempt phone contact. These calls are documented.
When the outstanding checks are within one year away from the reporting period, the College sends letters to the recipient’s with unclaimed property over the current state limit of $250.00.
As of March 1 of each year, it is determined which unclaimed property will need to be reported to the State of Texas. The determination is based on:
- The property has remained unclaimed for at least three years (one year if wages).
- The owner has not communicated, in writing or otherwise, regarding the property during the abandonment period.
The filing due date is July 1st of each year. As part of this filing, the unclaimed funds are remitted to the State Comptroller and removed from the Colleges accounting records.
Updated: March 17, 2020