I. Bookstore/General Store Operations
All financial transactions pertaining to bookstore operations shall be accounted for in a proprietary institutional account and kept separate from all of the College’s other activities. Markup of textbooks shall be reasonable and consistent with the markup prevailing among other North Carolina Community College’s. Periodically, but at least every four years, the Board shall review the College’s mark-up on textbooks and other instructional materials sold through the bookstore to determine if the mark-up is appropriately balanced between affordability for students and other priorities identified by the Board.
II. Use of Bookstore/General Store Operating Revenues
A. Bookstore/General Store receipts shall first be used to support bookstore/general store operating expenses including, but not limited to: salaries and benefits of bookstore personnel, purchase of inventory, marketing, supplies, travel, equipment associated with the operation of the bookstore/general store, enhancement of the bookstore/general and bookstore/general facility support costs, such as, utilities, housekeeping, maintenance and security.
B. Receipts in excess of the above operating expenses shall be transferred to the appropriate account and expended consistent with the following provisions:
1. Funds may be used to support instruction, student support services, student financial aid (e.g. scholarships, grants, loans, Work Study), student refunds, student activities, giveaways to students, curriculum development, program improvement, professional development, instructional equipment, and capital improvements related to facilities associated with the bookstore/general store and student activities.
2. Funds shall not be used to support any supplemental salary, benefit or other form of compensation for the College’s President. Funds shall not be used to support administrative costs, promotional giveaways to individuals other than students, entertainment expenses, fundraising expenses, and capital improvements not allowed under (B)(1) above.
Legal Reference: 1H SBCCC 300.3
Adopted: January 9, 2019