Financial Exigency Policy

Policy Owner: Chief Finance Officer

Policy Statement:

The President of the College, acting on behalf of the Board of Directors (“the Board”), recognizes that if it may become necessary to restrict, modify, or eliminate some of the programs under its governance due to unfavorable economic conditions. The President further recognizes that under such circumstances the College may be compelled to take certain adverse employment actions to ensure that it can fulfill its purposes and goals. Such action may be necessary in the event of a financial exigency, or for curricular reasons.

Policy Rational:

To provide guidelines and procedures in the determination and declaration of a financial exigency and to define circumstances where adverse employment action may be necessary for curriculum reasons.