An institutional unemployment compensation reserve rate shall be established at 1.3% of gross salaries which are paid by Grays Harbor College. This uniform rate shall be applied to all appropriate payrolls processed by Grays Harbor College for all funds established at the college.
The reserve thus accumulated shall be used to pay the cost of unemployment benefits, which have been allowed for any college employee without regard to the fund from which the salary was earned when the employee provided services to the college.
The president of the college is hereby directed to transfer, at the president’s discretion, these monies or any surplus which may be accumulated in the reserve account to the operating funds in order to pay the cost of unemployment benefits, to reimburse for the cost of the benefits, or to be otherwise properly expended for the exclusive benefit of the college.