- References: Accreditation Standard III.D.2, Education Code Section 84049(c);
The President/Superintendent shall ensure that the fiscal procedures of the District are prudent, sound and in compliance with California Code of Regulations, Title 5 and the California Community Colleges Budget and Accounting Manual.
The President/Superintendent delegates to the Vice President of Administrative Services the responsibility for stewardship of the available resources of the District and for ensuring that the following fiscal practices are in place: safeguarding and managing District assets to ensure ongoing effective operations; maintenance of adequate cash reserves; implementation and maintenance of effective internal controls; and determination of sources of revenues prior to making short-term and long-term commitments.
The Vice President of Administrative Services, in collaboration with the Director of Business Services, shall ensure an organizational structure within the fiscal services departments of the District to provide for adequate and clear delineation of fiscal responsibility and staff accountability.
The President/Superintendent or designee shall communicate with the Board of Trustees at least on a quarterly basis, or sooner as the need arises, the fiscal condition of the District to enable the Board for informed policy and decision making.
The President/Superintendent shall ensure that the District has an adequate management information system to provide timely, accurate and reliable fiscal information for planning, decision making and budgetary control.
These processes assure that the District's fiscal management is in accordance with the principles contained in Title 5, Section 58311. The books and records of the District shall be maintained pursuant to the California Community Colleges Budget and Accounting Manual. As required by the Budget and Accounting Manual, expenditures shall be recognized in the accounting period in which the liability is incurred, and shall be limited to the amount budgeted for each major classification of accounts and to the total amount of the budget for each fund.
The District's management information system shall provide timely, accurate, and reliable fiscal information.
See Board Policy #6300.
Adopted: May 2013