61-430 BOT 01-31-13 CONFLICT OF INTEREST POLICY PURPOSE Oglala Lakota College and its employees are committed to the principle of free, open, and objective inquiry in the conduct of its teaching and service missions. For the purpose of protecting both the integrity and objectivity of its employees in the performance of their College obligations, it is the policy of the College that conflicts of interests should be avoided where possible, or otherwise disclosed and managed. The purpose of the conflict of interest policy is to ensure the mission of the Oglala Lakota College is not compromised when the College enters or potentially enters into a transaction or arrangement that might benefit the private interest of an Oglala Lakota College employee. This policy is intended to supplement but not replace any applicable laws. DEFINITIONS Interested Person: Any employee who has a significant financial interest that may compromise or have the appearance of compromising, their professional judgment in teaching or otherwise performing their College obligations where the employee has the authority to approve or influence the conflicting transaction or arrangement. Employee: manager, department chair, faculty, staff or student employee. Immediate Family Member: spouse, domestic partner, brothers and sisters, children, grandchildren, great grandchildren, mother and father, and grandparents. Financial Interest: A direct or indirect interest whether through business, investment or family member where the employee: a. has an ownership or investment interest in any entity with which Oglala Lakota College has a transaction or arrangement; or b. has a compensation arrangement with any entity or individual with which Oglala Lakota College has a transaction or arrangement; or c. has a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which Oglala Lakota College is negotiating a transaction or arrangement. d. offers employment to a family member. e. is responsible for or may influence the disbursal or approval of a stipend, a check, a deposit, a fee, or money to a family member. Compensation: anything of economic value, however designated, which is paid, loaned, granted, given, donated, or transferred to any person or business entity for personal services, materials, property or the like. Management Plan: A plan developed by the College and Interested Person that specifies the actions that have been and/or will be taken to manage the financial conflict of interest. No management plan shall reduce an employee’s salary unless the management plan requires an official reduction in employee hours or leave of absence. This Management Plan shall be signed by the Interested Person. Significant: a conflict of interest that threatens the College’s ability to function or fulfill its mission. PRINCIPLE OF DISCLOSURE The goal of this policy is not to punish employees for conflict of interests but to encourage employees to disclose any actual or potential conflicts of interests before the conflicting transaction or arrangements begin. It is vital to the mission of the College that all employees have a duty to disclose the existence of a financial interest. Addressing conflicts requires the collaboration of all parties involved and may require, but is not limited to, one or more of the following: a. No action beyond disclosure; or b. Disclosure and management (including alteration or elimination of the conflict); or c. Prohibition of the transaction or arrangement. PROCEDURES Determining Whether a Conflict of Interest Exists: The following procedure shall be followed to address the conflict of interest: a. An employee shall immediately disclose a potential or actual conflict of interest to the Vice-President for Business in writing when the employee reasonably believes or knows they are an Interested Person. b. The Vice-President for Business shall report the conflict of interest to the President of the College. c. If the Vice-President for Business believes a conflict of interest exists, the Vice-President for Business shall develop a written management plan with the interested person. The management plan shall be submitted to and approved by the President. d. A copy of the management plan shall be placed in the interested person’s personnel file. An additional copy shall be provided to the interested person. e. The Vice-President for Business shall disclose a potential or actual conflict of interest to the President in writing. If the President determines a conflict of interest exists with the Vice-President for Business, he shall develop a management plan which will be forwarded to the College Attorney for review and a determination as to whether the management plan serves the interests of the College. f. The President shall disclose a potential or actual conflict of interest to the College’s attorney in writing. If the College attorney determines a conflict of interest exists with the President, he shall develop a management plan which will be forwarded to the Board of Trustees for review and a determination as to whether the management plan serves the interests of the College. Violations of the Conflict of Interest Policy: If the Vice-President for Business has reasonable cause to believe that an individual has failed to disclose an actual or potential conflict of interest, the Vice-President for Business shall inform that person of the basis for its belief and give them an opportunity to explain the alleged failure to disclose. If, after hearing the individual's response and making any necessary investigation, the Vice-President for Business determines that the individual has failed to disclose an actual or possible conflict of interest, the Vice-President for Business shall refer the matter to the President for appropriate disciplinary and corrective action. If the employee disagrees with the Vice-President’s findings, the employee may file a formal grievance for a hearing under OLC Policies and Procedure Manual 65-500-1. If the President determines that the Vice-President for Business has failed to disclose an actual or potential conflict of interest, the President can take the appropriate disciplinary and corrective action. When the Vice President for Business determines the President has failed to disclose an actual or potential conflict of interest the Vice President for Business will turn this over to the college attorney and the Board of Trustees. CONFIDENTIALITY Unless the conflict of interest is significant as defined in this section, an employee’s disclosure of a conflict of interest shall remain confidential. ANNUAL STATEMENTS Each manager shall annually sign a statement which affirms that such person: a. Has received a copy of the conflict of interest policy, b. Has read and understands the policy, and c. Has agreed to comply with the policy.
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