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					     PALOMAR COMMUNITY COLLEGE DISTRICT PROCEDURE                                    AP 6300


 1                                            FINANCE AND ADMINISTRATIVE SERVICES


 2   AP 6300      FISCAL MANAGEMENT

 3   References:
 4         Education Code Section 84040(c);
 5         Title 5 Section 58311;
 6         Accreditation Standard III.D.2;
 7         California Community Colleges Budget and Accounting Manual (BAM)

 8   The Chief Business Officer is responsible for ensuring that the District complies with
 9   sound fiscal management procedures which include:
10      •   Providing for responsible stewardship of available resources
11      •   Providing for safeguarding and managing District assets to ensure ongoing
12          effective operations; maintenance of adequate cash reserves; implementation
13          and maintenance of effective internal controls; determination of sources of
14          revenues prior to making short-term and long-term commitments; establishment
15          of a plan for the repair and replacement of equipment and facilities
16      •   Providing for an organizational structure that incorporates a clear delineation of
17          fiscal responsibilities and staff accountability
18      •   Providing that appropriate administrators keep the Governing Board current on
19          the fiscal condition of the District as an integral part of policy and decision-
20          making
21      •   Providing for development and communication of fiscal policies, objectives, and
22          constraints to the Governing Board, staff, and students
23      •   Providing for an adequate management information system that gives timely,
24          accurate, and reliable fiscal information for planning, decision making, and
25          budgetary control
26      •   Providing for appropriate fiscal policies and procedures and adequate controls to
27          ensure that established fiscal objectives are met
28      •   Providing a process to evaluate significant changes in the fiscal environment and
29          make necessary and timely adjustments
30      •   Providing both short term and long term goals and objectives and broad based
31          input coordinated with District educational planning

32   The Chief Business Officer is responsible for creating, maintaining, and communicating
33   the contents of the Finance and Administrative Services Handbook(s).

34   Office of Primary Responsibility: Finance and Administrative Services

     Date Approved: SPC 03/18/2008
     Replaces current Palomar College Policies 526 and 529 as well as Procedure 507.5)

				
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