7120 Debt Service Limit Policy

Original Date: 9/10/2008 * Last Revision Effective: 9/10/2008
Policy Contact: President

Policy

The college is required to manage debt for capital outlay purposes that is periodically reviewed, carefully controlled, and justified so as not to create an unreasonable drain on resources available for educational purposes.

General Policy

The trustees of Community College District VIII, in accordance with RCW 28B.50.140 (6) and 39.94, authorize the incursion of debt for the purchase of real property or construction. The College will manage its resources to insure adequate resources are available to meet debt service for long term and short term indebtedness. Bellevue College shall not incur debt or borrow money which will cause aggregate total debt contracted by the college to exceed 7% of the average of the operating budget for the three immediately preceding fiscal years.

Revision History

Original 9/10/2008

Approved By

Board of Trustees