(1) Delegation of authority: The board of trustees delegates to the president general authority to manage the college pursuant to RCW 28B.50.140. In addition to such other specific authority as has been or may be delegated to the president, the board further delegates all express or implied authority to carry out the administration and operation of the district except as provided in subsection (2) and (3) of this section.

(2) Reservation of powers: Notwithstanding this broad delegation of authority to the president of Olympic College, the board of trustees reserves to itself jurisdiction and authority over the following matters:

(a) Hiring and retention of the president, assigning or reassigning the president's duties, and setting the president's salary and working conditions;

(b) Granting or denying tenure to faculty;

(c) Adoption, amendment, or revocation of rules under the Administrative Procedure Act;

(d) Reduction in force of faculty and dismissal of full-time faculty, including nonrenewal of tenure track faculty;

(e) Approval of employee collective bargaining agreements;

(f) Approval of college operating budget and capital budget requests to the state board for community and technical colleges;

(g) Naming of college buildings;

(h) Approval of tuition rates, operating fees and special fees when at the discretion of the college;

(i) Approval of request for employee indemnification and representation;

(j) Authorization to purchase real estate and every lease of real property for a term of three years or more when the college is required to make payment of fifty thousand dollars or more in a fiscal year under the terms of the lease; and

(k) Other matters as may from time to time be approved by the board.

(3) Fiscal limitations on delegation: Notwithstanding the board delegation of authority to the president of Olympic College, the board of trustees reserves to itself jurisdiction and authority over the following matters when the dollar value is in excess of the following limits:

(a) Approval of preliminary and final design of capital projects over five million dollars;

(b) Modifications to the operating budget in excess of three percent;

(c) Sale or conveyance of gifted property when the value is in excess of fifty thousand dollars;

(d) Acceptance of gifts when the value is in excess of twenty-five thousand dollars; and

(e) Other matters as may from time to time be approved by the board.