Planning Agenda Complete effective and efficient implementation of the PeopleSoft financial management software; identify and implement fully functional, efficient and robust financial aid software. III.D.2.e All financial resources, including those from auxiliary activities, fund-raising efforts, and grants are used with integrity in a manner consistent with the mission and goals of the institution. Description PCCD manages expenditures of financial resources in a manner that ensures they are utilized with integrity. All revenues are deposited into fund accounts designated for specific use. The general fund, which makes up approximately 70 percent of total revenues and covers the bulk of operating costs at the district, is managed independent of other revenues. It is divided into unrestricted and restricted funds, and each is managed according to specifications stipulated as part of revenue receipt. Other revenues are managed in independent funds, including Children’s Center funds, capital outlay funds, bond and bond-related funds, the Student Financial Aid Fund, the Associated Students Fund, etc. (IIID1c-1). All funds are allocated to the colleges within this structure. Laney College monitors its expenditures similarly. College revenues are divided into two categories, unrestricted funds and restricted funds. Restricted revenues pay for special programs and services, and often have specific monitoring and reporting requirements. To ensure integrity of restricted revenue expenditures, the college manages these through independent accounts and maintains detailed financial reporting for each (IIID2a-1). Some examples of special-program funds are CalWORKs, EOPS/C.A.R.E, Project Bridge, and the Childcare Center. Unrestricted funds are also managed independently of each other, but usually have less rigid monitoring and reporting requirements. State allocation revenues are used in accordance with state regulations, and according to district and college policies. District financial oversight is the responsibility of
the Office of Finance and Administration. The Office of Finance and Administration produces quarterly and annual reports on each fund’s expenditures and changes in balances (IIID1c-1). At the college level, budgets are developed and monitored by the business manager, with oversight by the college president. Annual external audits confirm that funds are expended according to district reporting, and in accordance with district, state, and federal policies and regulations (IIID2e-1, IIID1a-6). Evaluation The college meets this standard. Plan None. III.D.2.f Contractual agreements with external entities are consistent with the mission and goals of the institution, governed by institutional policies, and contain appropriate provisions to maintain the integrity of the institution. Description District policies and procedures ensure that contractual agreements with external entities mirror and support the mission and goals of the institution; the district has clear guidelines regarding contractual agreements. Board policy regulates the conditions under which contracts can be entered into, and clearly delineates procedures for bidding, negotiating, and monitoring contracts (IIID2f-1). Additionally, Board policy has clear guidelines that prevent conflicts of interest and prohibit discrimination in contractual relationships (IIID2f-2). Generally, contracts are reviewed by the CFO to ensure that planned expenditures are in accordance with budgets and financial planning. All contracts are reviewed by the chancellor or a designee, and all contracts over specified amounts ($25,000 generally, $72,400 for bond revenues) must be approved by the Board of Trustees (IIID2f-3). All contracts forwarded to the Board of Trustees for approval appear on public agendas, a policy that allows district constituents to stay apprised of contract negotiations and provides further assurance that agreements with
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