II.F. Enterprise Fund Operations
ADMINISTRATIVE POLICY TYPE: FISCAL MANAGEMENT
POLICY TITLE: Enterprise Fund Operations
Operations where the cost of providing goods or services to students, district staff or the general public on a continuing basis is financed or recovered primarily through user charges shall be accounted for in the Enterprise Fund. Sales from Enterprise Fund activities shall be accounted for in accordance with policies established by the Wisconsin Technical College System Board and generally accepted accounting principles.
Classroom resale—parts, supplies
An appropriate markup will be included in the sales price to recoup the cost of operating the Enterprise Fund activities.
The board shall be given a yearly profit and loss statement of income and expenses as part of the Comprehensive Annual Financial Report’s Enterprise Fund section.
NOTE: Annual board review.