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Summer Term
Begins May 29
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We have added a number of general education liberal arts and sciences classes to this year's summer schedule, along with several career and technical courses.

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MCTC Foundation Scholarships

The MCTC Foundation awards numerous scholarships each year to students in need as well as to students with high academic potential. During the 2010-2011 school year, the MCTC Foundation awarded over $387,000 to 291 students. Scholarship information for the 2012-2013 school year is now available. Please refer to the scholarship packet to see available scholarship opportunities.

The scholarship application deadline is May 25, 2012 at 4:00 p.m. in T.2500.

Download the MCTC Scholarship packet

College Policy 5.12

Financial Institutions and Investments

Part 1. Authority Statement

It is the policy of Minneapolis Community and Technical College to maintain an effective program of cash management and follow the legal requirements regarding depositories and collateral requirements.

Part 2. General Responsibilities

All financial institutions and investments shall be conducted in accordance with the provisions of Minnesota Statutes, Board policy, and system procedures. The President expects that community relationships will be balanced against efficient financial institution administration.

Subpart A. Financial Institution Practices

All system office and college funds must be deposited for safe keeping in financial institutions selected in accordance with provisions of Minnesota Statutes or invested as specified by Minnesota Statutes.

Documentation specifying staff authorized to sign checks or initiate funds movements, or changes thereto, for all financial institution accounts, pooled investments accounts, or money market funds shall be approved by the President. Depository financial institutions selected shall furnish adequate collateral in a timely manner to assure safety of these funds in accordance with provisions of Minnesota Statutes. This does not negate our need to monitor and ensure compliance.

As permitted by statutes and system procedures, interest received on local institutional funds may be credited to appropriate accounts.

Subpart B. Investments

Local institutional funds shall be invested in funds authorized by Minnesota Statutes and in a manner consistent with system procedures and guidelines.

Subpart C. Safekeeping

All monies received by the system office, college or university shall be deposited daily, unless such receipts are less than $250 in which event deposits may be deferred until they total such sum.

Part 3. Accountability/Reporting

The Office of the Chancellor will be periodically updated on financial institutions and investment management and advised of any recommended policy changes.

Date effective: 12/27/2005
Date last amended: 12/27/2005