Procedures for Pledging of College Assets

Title: Pledging of College Assets Procedures
Effective Date: prior to 2005
Issuing Authority: Vice President and Chief Financial Officer
Contact: Janet Hanson at jhanson@stolaf.edu or 507-786-3018
Last Updated: prior to 2005

Purpose of Procedures

To ensure the safe keeping of all St. Olaf College assets.

Who needs to know these Procedures

These procedures apply to all St. Olaf faculty, staff, and students.

Procedures

Pledging of assets (putting College assets up as collateral against an obligation) can only be done by the President or the Vice President and Chief Financial Officer with the approval of the Board of Regents. No one else at the College has the authority to pledge any College assets (financial or physical).