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.

Term	Description
Business Case	refers to a written report that addresses the financial implications of the proposed discount rate.
Discount Rate	refers to the percentage discounted from the regular retail price.
Facilities	refers to any physical facilities or space owned by VCC.
Products	refers to finished VCC products intended for public purchase or consumption (examples include, but are not limited to, food and baked goods).
Services	refers to VCC services intended for public consumption (examples include, but are not limited to, massages, manicures, pedicures, vehicle servicing, blood pressure monitoring, and dental care).
Supplies	refers to stocks of material, resources or tools (generally, though not always, purchased wholesale) that are used to generate services or finished products (examples include, but are not limited to, food supplies, hair supplies, spa supplies, dental supplies, and automotive tools).

Term

Description

Business Case

refers to a written report that addresses the financial implications of the proposed discount rate.

Discount Rate

refers to the percentage discounted from the regular retail price.

Facilities

refers to any physical facilities or space owned by VCC.

Products

refers to finished VCC products intended for public purchase or consumption (examples include, but are not limited to, food and baked goods).

Services

refers to VCC services intended for public consumption (examples include, but are not limited to, massages, manicures, pedicures, vehicle servicing, blood pressure monitoring, and dental care).

Supplies

refers to stocks of material, resources or tools (generally, though not always, purchased wholesale) that are used to generate services or finished products (examples include, but are not limited to, food supplies, hair supplies, spa supplies, dental supplies, and automotive tools).

VCC Policies	Policy Number
Rental of College Facilities	140
Standards of Employee Conduct & Conflict of Interest	202
Use of College Supplies, Products, Services, and Facilities

VCC Policies

Policy Number

Rental of College Facilities

140

Standards of Employee Conduct & Conflict of Interest

202

Use of College Supplies, Products, Services, and Facilities

History

Viewing: Establishing Discount Rates for VCC Employees and/or Students

Last approved: Wed, 01 Nov 2023 18:30:44 GMT

Last edit: Wed, 01 Nov 2023 18:30:43 GMT

Policy

Procedures

References and Resources

Rationale and Additional Information

ADMINISTRATIVE INFORMATION

Category 1: College Operations

Category 2: Employees

Category 3: Students