Trust Fund Document

The Board of Trustees of Bridgewater State College do hereby establish the following Trust Funds, as authorized by The Massachusetts General Laws Chapter 15A, Section 22. These statutes authorize the College, through its Board of Trustees, to create trust funds to finance and account for certain campus projects, programs and activities. The Board shall establish those fees required to maintain a reasonable balance of unrestricted current operating funds.

These statutes also stipulate that all income received (other than state and federal appropriations) be held in trust and be expended for the purposes for which the Trust Fund is established. Trust Funds are used to provide an accounting structure within which the College shall operate those activities deemed necessary for the operation and maintenance of those College projects, programs and activities directly associated with the particular trust fund.

The Bridgewater State College Board of Trustees (otherwise known as The Board) shall be the primary legal entity responsible for the collection of revenues and expenditures of funds associated with this account (see attachment A). The Board delegates the authority to operate trust funds to the President who in turn delegates the following responsibilities to the Vice President for Administration and Finance.

  1. The establishment and maintenance of accurate records of all transactions affecting the fund balance of this account. Records shall be maintained in accordance with proper accounting procedures, including documentation of receipts, disbursement and bank accounts.
  2. The maintenance of the cash collected in the name of this Trust Fund within an approved banking establishment.
  3. Compliance with all Massachusetts General Laws, which may directly or indirectly affect the nature of expenditures from this Trust Fund, and compliance with all guidelines and standards issued by the Governor of Massachusetts under his executive authority.
  4. The Vice President shall provide the President with a detailed accounting of Trust Funds expenditures on a quarterly basis. The President shall forward the quarterly reports to the Board of Trustees for review and approval.

Bridgewater State College – Athletic Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions:

  1. The trust fund shall be exclusively known as "Bridgewater State College – Athletic Trust Fund."

  2. The trust fund shall be used to support the following purposes:

    To provide a diverse program of athletic and recreational activities for students while  enrolled at Bridgewater State College. Emphasis is focused on those activities which  foster broad participation, serve to promote personal development and enhance a  cooperative effort, self discipline and team endeavor.

    Examples of appropriate expenditures would be, but not limited to, the following: intramural sports, inter-collegiate activities, community programs, and any other items necessary for supporting the operation of College athletic programs both on and off campus.

  1. The Trust may not be used for expenditures deemed inappropriate. Examples of inappropriate expenditures are the following:

    Any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education; specifically items such as academic textbooks, or any other non-athletic related expenses.

  2. The revenue sources for this Trust Fund will be derived primarily from fund raising events and from the sale of game tickets and programs.

  3. All coaches must read and acknowledge responsibility for compliance with the Bridgewater State College Coach's Handbook on an annual basis. The procedures in the Bridgewater State College Coach's Handbook must not be in conflict with any Trust Fund Guideline or Business Expense Policy of the College.

Bridgewater State College – Parking Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions:

  1. The Trust shall be exclusively known as "Bridgewater State College – Parking Trust Fund."

  1. These funds must be used for the exclusive purpose of supporting parking related functions such as administrative operations, parking decals, construction of new parking facilities and maintenance of parking related structures. Expenditures must be in compliance with the expense policies of the College.

    2. Examples of appropriate expenditures would be, but not limited to the following: parking office supplies and administrative expenses, parking office payroll and fringe benefit expenses, parking enforcement activities, or parking lot construction and maintenance expenses.

  2. In accordance with Chapter 15A, Section 13 of the Massachusetts General Laws, funds collected as parking fines and penalties will not be used to support campus operations that are not parking related.

    Examples of inappropriate expenditures would be, but not limited to the following: any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education; specifically any non-parking related expenses such as: facilities equipment, office supplies, telephone expenses, or commencement exercises.

  1. The revenue sources for this Trust Fund will be derived primarily from revenues collected from parking fines, parking fees and parking meters.

Bridgewater State College – General Purpose Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions:

  1. The Trust shall be exclusively known as "Bridgewater State College – General Purpose Trust Fund.

  2. The General Purpose Trust Fund shall be used to provide support for the general purpose of College operations, which include all academic costs, costs associated with student services, institutional support, operation and maintenance of the physical plant, and costs related to public service to enhance college/community relations. Funds may be used for the purpose of scholarship aid and financial assistance to students from time to time as deemed necessary by the President and the Board of Trustees.

    Examples of appropriate expenditures would be, but not limited to the following: office supplies, travel expenses, payroll expenses, electricity, consultant expenses, books, housing, paper, equipment, and other expenses related to the daily operation of the college. Expenditures must be in compliance with the expense policies of the College.

  1. The Trust will not be used for any of the following purposes:

    Examples of inappropriate expenditures would be, but not limited to the following: any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education.

  2. The revenue sources for this Trust Fund will be derived primarily from student fees, and locally generated day tuition revenues. Funds may be received from other trusts for appropriate expenditure in this trust fund.

Bridgewater State College – Dormitory Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions:

  1. The Trust shall be exclusively known as "Bridgewater State College- Dormitory Trust Fund."

  2. The Dormitory Trust Fund supports the College’s mission to provide clean, safe and adequate housing for resident students at Bridgewater State College.

    Examples of appropriate expenditures would be, but not limited to the following: dormitory maintenance expenses, payroll expenses related to housing, and other housing related expenses. Expenditures must be in compliance with the expense policies of the College.

  3. Examples of inappropriate expenditures would be, but not limited to the following: any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education; specifically items such as deferred maintenance of an academic or administrative building, salaries unrelated to housing administration, or athletic programs.

  4. The revenue sources for this Trust Fund will be derived primarily from student rents and fees specifically related to housing.

Bridgewater State College – Burnell School Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions.

  1. The Trust shall be exclusively known as "Bridgewater State College – Burnell School Trust Fund."

  2. The Burnell School is the campus laboratory school with a program developed and maintained by Bridgewater State College for the training of elementary education teaching majors attending the college. This trust shall be used to support and account for the fund raising efforts of the Burnell School. Expenditures must be in compliance with the expense policies of the College.

  3. Examples of inappropriate expenditures would be, but not limited to the following: any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education; specifically items such as college athletic programs and auxiliary enterprises.

  4. The revenue sources for this Trust Fund will be derived primarily from fund raising events.

Note: With the signing of the agreement dated February, 1999 between Bridgewater State College and the Bridgewater-Raynham School District it is anticipated that this trust fund will be eventually phased out.

Bridgewater State College – Dining Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions:

  1. The Trust shall be exclusively known as "Bridgewater State College – Dining Trust Fund."

  2. The Dining Trust Fund shall be used as a depository for all payments made to the college in association with the delivery of the food service meal plan program at the college by the college food service contracted vendor. Payments made to the vendor, for the support of students in the college sponsored meal plans, shall also, in turn, be paid directly from this account.

    Examples of appropriate expenditures would be, but not limited to the following: meal plan payments to food service vendor, dining room renovation, repairs, replacements, or other improvements to the campus. Expenditures must be in compliance with the expense policies of the College

  1. Examples of inappropriate expenditures would be, but not limited to the following: any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education; specifically items such as office supplies, administrative expenses, and travel expenses.

  2. The revenue sources for this Trust Fund will be from student fees paid for meal plans and dining cash sales.

Bridgewater State College - Student Government Association Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions:

  1. The trust shall be exclusively known as "Bridgewater State College – Student Government Association Trust Fund."

  2. The Student Government Association Trust Fund shall be used exclusively to support programs and activities beneficial to students such as recognized student clubs and organizations. The Student Government Association Trust Fund shall be the accounting vehicle to receive all funds collected by the college, as charged on the student bill as the Student Government Association fee. The SGA fee shall be proposed by the Student Government Association and approved by the President and the Board of Trustees. Expenditures must be consistent with the mission and purposes of Student Government Association at Bridgewater State College.

    Examples of appropriate expenditures would be, but not limited to the following: office supplies, program expenses, contracted services and payroll-related expenses. Expenditures must be in compliance with the expense policies of the College.

  3. Examples of inappropriate expenditures would be, but not limited to the following: any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education.

Bridgewater State College – Division of Graduate and Continuing Education Trust Fund

In accordance with the fiduciary requirements of the Board of Trustees of Bridgewater State College this fund is subject to the following terms and conditions:

  1. The Trust shall be exclusively known as "Bridgewater State College – Division of Graduate and Continuing Education Trust Fund."

  2. The Division of Graduate and Continuing Education Trust Fund shall be used as a central accounting vehicle for those programs developed by the College to provide educational opportunities to meet the demand for graduate programs, continuing education and non-credit programs in the College’s service region.

    Examples of appropriate expenditures would be, but not limited to the following: office supplies, program expenses, contracted services, payroll expenses and fringe benefits. Expenditures must be in compliance with the expense policies of the College.

  1. Examples of inappropriate expenditures would be, but not limited to the following: any items indicated as inappropriate trust fund expenditures within the Trust Fund Guidelines issued by the Board of Higher Education.

  2. The revenue sources for this Trust Fund will be derived primarily from student tuition, student fees and program fees.

Last Modified: March 26, 2004