# D - Executive Limitations

Northern College primarily exists to meet the educational and training needs in northeastern Ontario. In part these needs are met through the existence of its community campuses, access centres, and the associated infrastructure, comprised of property, information and technology assets, as well as f

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Referenced from: [Board of Governors](/pages/about/board-of-governors/)

## Document text

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## D - Executive Limitations

## Background

Northern College primarily exists to meet the educational and training needs in northeastern Ontario. In part these needs are met through the existence of its community campuses, access centres, and the associated infrastructure, comprised of property, information and technology assets, as well as financial assets. The Board of Governors is responsible for the College's assets with some limitations regarding real property set by the ministry.

## Policy

The President shall not allow assets to be unprotected, inadequately maintained or unnecessarily risked.

## Procedure

## A. Financial Assets

Accordingly, the President will not permit the College to operate without ensuring:

1. appropriate financial controls and procedures;
2. purchases are made in accordance with sound purchasing practices and provincial policies;
3. that funds not required for immediate use will be invested in a manner which does not  violate  Regulations  and  Policy  Directives  issued  under  the  OCAAT  Act, minimizes the College's investment risk exposure and provides a reasonable rate of return for the College;
4. that a competitive process to select a financial institution for banking services, that ensures both high-quality services and fairness in the marketplace is followed;
5. to  report  to  the  Board  on  investment  performance  on  a  basis  consistent  with established benchmarks as set by the Board; and
6. to advise the Board of any changes in the investment standard of practice prior to implementation.

Policy #:

D-11

Approved:

2012-01-10

Revised:

2023-11-07

Motion:

75-11-23

## Asset Protection

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## B. Property Assets

Additionally, the President shall not:

1. fail to insure against theft, fire and casualty losses to a prudent replacement value with an appropriate deductible;
2. permit the College to be without insurance against theft and casualty losses and against  liability  losses  to  Board  members,  staff  or  the  organization  itself  in  an amount consistent with comparable organizations;
3. unnecessarily expose the College, its Board members or staff to claims of liability;
4. cause or allow plant and equipment to be subjected to improper wear and tear or insufficient maintenance;
5. make  purchases  without  due  consideration  to  quality,  after-purchase  service, value for dollar, impact on partnership, and opportunity for fair competition;
6. make  any  purchase  wherein  normally  prudent  protection  has  not  been  given against conflict of interest;
7. fail  to  have  a  business  continuity/contingency  plan  in  place  that  is  reviewed regularly;
8. fail to plan and provide for necessary technology enhancements or acquisitions to support effective learning, instruction, and services;
9. fail to develop and maintain appropriate information systems that enable effective program/service delivery, which are compatible with relevant provincial initiatives, and avoid duplications;
10. 10.dispose of or transfer fixed assets without consideration of achieving a maximum return and taking normally prudent actions to avoid the possibility of conflict of interest;
11. 11.acquire,  encumber  or  dispose  of  land  or  buildings,  or  lease  land  without  the Board's prior knowledge and consent.

## Monitoring System

The President shall provide an annual statement or statements of compliance with this policy including a summary of any ongoing challenges and emerging issues.

Policy #:

D-11

Approved:

2012-01-10

2023-11-07

Motion:

75-11-23

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<small>Source: [https://www.northerncollege.ca/uploads/2025/07/D11_Asset-Protection.pdf](https://www.northerncollege.ca/uploads/2025/07/D11_Asset-Protection.pdf)</small>