Financial Administration

The President is responsible for assuring that the financial administration of the college conforms with the Minnesota State Colleges and Universities Board of Trustees policies and procedures including: 

• financial records are complete and safeguarded; 
• financial information is accurate, reliable and useful for management reporting; and 
• financial management methods support short term and longer term system and college strategic objectives. 

Records shall be subject to internal, legislative and external audits as required by Minnesota Statutes, Minnesota State Colleges and Universities Board of Trustees policies, and as needed in pursuit of the college’s mission and goals. 
 

Reference: Minnesota State 7.3  

Saint Paul College shall follow the Minnesota State Colleges and Universities policies and  procedures when implementing and monitoring a purchasing card program. Purchasing cards  provide the College with a cost-effective, convenient and streamlined method of purchasing  items, thereby reducing the volume of individual vendor payments processed by the College.  

Reports on cardholder activity enable the institution to capture information necessary to better manage institutional purchasing activities. Saint Paul College has additional prohibited use items as noted, but not limited to, the following: 

• Drugs or pharmaceutical products 
• Telephone calls (whether business or personal) 
• Illegal activities 
• Items which are given away for promotional purposes unless authorized by a  
  grant agreement or paid for with student activity funds.
• Expenses for staff recruiting or entertainment of prospective employees 
• Advertising except for job postings done by HR 
• Licensed equipment (vehicles, ATV, trailers, snowmobile, etc.) 
• Gifts, donations, or contributions to individuals or organizations 
• Payments to other departments 
• Refunds of revenue 
• Purchase or removal of hazardous or radioactive materials 
• Time payments, pyramiding (multiple purchases to cover the same transaction) 
• Tuition payments 
• Consulting services, professional technical services 
• Political fund raising or union related activities 
• Finance service except where it is the only means to make a valid authorized stated business purchase