December 1 E5Y 01. We at SWT are committed to providing sound financial stewardship through accounting, budgeting, monetary management systems, and fundraising activities which maximize the institution's fiscal posture. This procedure contributes to the implementation of this policy. Normally this reserve account is earmarked for the use of the activity that generated the surplus income.
Income accounts are accounts which record the receipt of cash.
Expenditure accounts also define the dollar limits to which an account manager may expend for a specific activity. An account manager is appointed to authorize expenditures from expenditure accounts. The income from this account is to be applied to need-based scholarships, as determined by the Director of Financial Aid and the Vice President for Student Affairs. The approval process to expend from a reserve account is explained in Section 04. This reserve account contains the unallocated student service fees.