vcc.ca
Establishing Discount Rates for VCC Employees and/or Students Procedures
Procedures Number: 113
Procedures Effective Date: September 26, 2015
Approval Body: President
Sponsor: VP Administration
Procedures
- The Dean and/or Director in conjunction with the relevant budget manager must develop a business case that lays out a proposed set of discount rates for VCC employees and/or students for a particular product or service.
- The business case must include relevant information: rationale, cost, sale price, GST/PST effect, projected profit, list of products/services to be discounted, volumes, effective date of discount, etc. The discounted rate must still achieve a profit for VCC.
- The business case must be submitted to the Director of Finance for approval.
- If the business case is approved, the Vice President Administration & CFO must sign off on it.
- An official communication through the Digest must be issued to announce the new discount rate.
- The discount rate must be made available to all VCC employees and/or students (not just to employees/students from the department where the product or service is held or delivered).
- The business case and related discount rate will be audited annually by the Finance Department. The results of the audit will determine if the discount rate remains or is cancelled.
- The relevant dean or director will deal with any violations of approved discount rates for employees and/or students through appropriate disciplinary measures.
See related policy 113