Board formalizes emergency reserve policy, keeps $5 million in two pools
The board approved a revision to chapter 6.6 to formalize administration of two reserve pools — a $3 million emergency pool and a $2 million hazardous‑materials mitigation pool — to address unanticipated capital and environmental emergencies at colleges.
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The board approved a policy update to chapter 6.6 (resolution 26‑06‑27) that formalizes long‑standing procedures for two reserve pools used for capital emergencies and hazardous‑materials mitigation. Gerald (staff) told the board the pools together total $5,000,000 for the biennium: $3,000,000 for the emergency pool and $2,000,000 for hazardous‑materials mitigation.
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