Standard Nine: Financial Resources
Committee Members:
| Faculty Rudy Sanfilippo, Co-Chair Chuck Iverson Richard Claire |
Classified Debbie Carrington, Co-Chair Marie Tucker Jennifer Grafe Tim Hoo |
Administrators Ron Galatolo |
Student Joe Harney |
The institution has adequate financial resources to achieve, maintain, and enhance its programs and services. The level of resources provides a reasonable expectation of financial viability and institutional improvement. The institution manages its financial affairs with integrity, consistent with its educational objectives.
A. Financial Planning
A.1 Financial planning supports institutional goals and is linked to other institutional planning efforts.
Descriptive
Summary
The San Mateo County Community College District utilizes an
FTES driven budget allocation model (9.1) for its three colleges.
The District's allocation of funds to each college is based
on the average percentage of District FTES generated by each
during the previous three years. The budget allocation model
drives college and district-wide planning efforts.
A number of district-wide and college-specific planning activities have provided the framework for the distribution of funds designated for each college. For example, the District's Vision 2000 Statements (9.2), which resulted from a major district-wide planning effort during 1991, continues to provide the foundation for building the budget. Planning and budget goals were identified in formulating the Vision 2000 Statements. Planning processes were institutionalized throughout the district in order to provide overall direction for the District and individualized paths for each college. Similarly, budgeting processes were implemented which were designed to make the most effective use of limited resources through carefully developed priorities.
At the college level, the President and College Council have held budget planning retreats during the spring semesters to review progress on the previous year's goals, develop new goals for the coming year, and identify budget priorities. A direct result from this planning effort is the annual goals document (9.3), which is reviewed by all college constituencies before being submitted to the Chancellor for Board of Trustees review.
In 1997, the district completed an Educational/Facilities Master Plan (9.4), which identified the facilities that would be required in order to implement particular strategic directions for each campus in an effort to support its educational programs and services. The Master Plan focuses on ways in which existing facilities may be used more effectively and identifies those projects necessary to meet the educational demands of the future.
Self
Evaluation
During the past several years, long-range financial planning
has been difficult due to a steady decline in enrollment and
the uncertainty of funding. Since the budget allocation model
is driven by FTES, the college's allocation has been substantially
reduced, causing the college to operate under severe budgetary
constraints.
The college has had little flexibility in terms of new program development, since more than 90 percent of its financial resources are allocated to personnel costs. The focus of necessity has been on improving the quality of its existing programs and services rather than on the implementation of large-scale new initiatives.
Recognizing this dilemma, in February 1998 the Board of Trustees approved a number of program initiatives (9.5) to develop new programs. One of the criteria for selecting the programs to be funded was whether the proposal was linked to planned or desired institutional directions. Among the projects funded were
- development of a multimedia lab,
- creation of a child development center,
- development of a fitness center, and
- strengthening of enrollment by employing a full-time recruiter.
In addition, in February1999 the Board of Trustees granted the college a one-time allocation of $207,244 to develop new programs. The funds were used to develop a networking lab and to create a new systems and facilities maintenance engineering program.
The results of the budget planning process for the 1999-2000 year are indicated in the budget priorities section of the SMCCCD 1999-2000 Final Budget document (9.6). The priorities, goals, and objectives are supported by statements in italics relating to the specific budget allocations made as part of the planning process to support the goals.
During 1999-2000, the college reaffirmed a budget and planning process (9.7) that established a plan for eliciting divisional plans informed by research that are tied to the goals of the college and linked to budget. In essence, the college uses a bottom up approach to planning and budgeting, with requests flowing upward from faculty and staff based on programmatic needs. Through a shared governance process, the college formulates priorities and goals for the next fiscal year. These goals are tied directly to the budget planning process.
Planning
Agenda
None.
A.2 Annual and long-range financial planning reflects realistic assessments of resource availability and expenditure requirements. In those institutions which set tuition rates, and which receive a majority of funding from student fees and tuition, charges are reasonable in light of the operating costs, services to be rendered, equipment, and learning resources to be supplied.
Descriptive
Summary
The district receives its funding from the state under a program
based funding (PBF) formula. The number of students enrolled
in credit and non-credit programs determines the major portion
of the college's budget. In addition, the college receives categorical
funding from state and local government sources that is determined
by the total number of students served in specific programs.
Funding on a recurring basis is received from the state for
programs such as Matriculation, EOPS, DSP&S, Cal Works,
etc. Local and federal government sources assist in funding
additional programs and activities, such as the Education &
Technology Downtown Center and the OICW/Menlo Park Center.
The college also collects local fees, such as parking, student body, and health services fees. Non-resident tuition fees are collected from out-of-state and international students. Of the total amount of non-resident fees collected each year, 92% is included in the available resources of the district's budget allocation model. The remaining 8% is included in the college's ending balance and used by the campus for discretionary purposes.
Community education programs are a function of the San Mateo County Community College District, serving the three campuses. Courses are often held at the Cañada College campus, but the college has not received a share of the revenue generated in recent years. The divisions do, however, receive a small portion of the income of the College for Kids program offered on the campus during the summer months.
Self
Evaluation
The college builds its budget based on the district's initial
projections of anticipated revenue. The allocation is adjusted
either upward or downward as enrollment data and state budget
information become available and is finalized annually in early
September. Annual budget development includes a careful review
of personnel costs, including cost of living adjustments, range
changes, and step increases; an analysis of hourly teaching
costs; an analysis of discretionary costs; a projection of the
ending balance; and other budgetary adjustments made during
the course of the previous year.
Through a shared governance planning process, personnel, equipment, and other needs are identified. An annual list of unfunded needs is created, which is commonly referred to as the "critical needs list." As additional income becomes available, funds are allocated consistent with previously established priorities. The college's portion of non-resident tuition (8%) and facilities rental income are included in the ending balance each year and assist in funding these critical needs.
Partnership for Excellence funds have been used to fund new positions and activities that would not have been possible otherwise (9.8). These funds are included in the college's planning and budgeting process and are devoted to programs and activities designed to meet the program's outcome goals. The ability to perform long-range planning is hampered by the uncertainty of future long-term PFE funding.
In recent years, the college has made a determined effort to increase its financial resources through external funding. A number of grants for specific purposes have been received (9.9). These additional funds have allowed program enhancements in student services, engineering, child development services, learning communities, math, Hispanic supported education, and other areas. For example, continuation of the new Middle College Program would not have been possible without grant support.
In an effort to increase FTES and thus increase the budget allocation, the college has focused its energies in recent years on ways in which enrollments may be increased. Toward this end, a full-time recruiter has been added to the staff and centralized enrollment management activities have been placed under the supervision of the Acting Dean of EOPS and Enrollment Management. In addition, faculty and staff have participated in a number of college and community-based activities designed to attract additional high school graduates and working adults.
Planning
Agenda
College administrators will seek additional resources from the
district and from external entities to develop new and update
existing programs.
A.3 Annual and long-range capital plans support educational objectives and relate to the plan for physical facilities.
Descriptive
Summary
During 1996-97 the San Mateo County Community College District
developed an Educational/Facilities Master Plan (9.4) following
a participative process at each of its three campuses. The plan
set the direction for future facilities projects based on the
requirements of the student- centered Master Plan model. The
four major directions identified were
- creating educational environments which are learning centered rather than teaching centered,
- creating a clearly defined center for delivery of services to students,
- infusing technology throughout the educational curriculum with appropriate facilities, and
- defining appropriate physical learning environments.
At Cañada College, groups of administrators, faculty, staff, and students studied a number of different options to configure facilities for bookstore, cafeteria, student services, library, learning resource center, and administration for better serving student needs. The result of this effort was the creation of conceptual facilities plans called "footprints." Incorporated into the footprints were long-term projections for enrollment increases. Cañada College projects included in the District's Five-Year Capital Construction Plan (9.10) are
- a new Library/Learning Resource Center,
- a new Childhood Education and Development Center, and
- a Counseling/Transfer Center/Career Center.
State funding has since been acquired for the Child Development Center, with ground-breaking in January 2001. In Fall 2000, the SMCCCD will submit a Final Project Proposal for the Library/Learning Resource Center and an Initial Project Proposal for the Counseling/Transfer Career Center.
In addition, the San Mateo County Community College District placed a $148 million general obligation bond measure on the November 1999 ballot; however, the measure failed to receive the 2/3 vote required for passage and was defeated by a narrow margin. The District is currently securing opinion research to determine if it will place another bond measure on a future ballot.
Self
Evaluation
An ongoing and important priority for the San Mateo County Community
College District is the improvement and maintenance of its aging
facilities. Funding for capital improvement projects from the
State has been limited. The District received $8.9 million for
construction of a Library/Learning Resource Center at Skyline
College, but that was the first building funded by the State
in more than 10 years.
The attempt at securing the bond measure represents the District's commitment to maintain and upgrade its current facilities and provide new state of the art buildings. In addition, the SMCCCD adopted six 2000-2001 budget goals and guidelines (9.11), four of which are specifically related to plans for physical facilities. They are 1) Bond measure/facilities needs/financing options, 2) buildings and grounds organization, 3) surplus land options, and 4) capital facilities.
The process for completing annual capital plans for the college has not existed for the past several years. College staff should be involved in creating annual plans as part of the budget and planning process.
Planning
Agenda
College and district administration, in consultation with faculty
and staff, will prepare annual capital plans, separate from
the Five-Year Capital Construction Plan.
A.4 Institutional guidelines and processes for financial planning and budget development are clearly defined and followed.
Descriptive
Summary
Financial planning is based on the goals established through
various shared governance processes during the previous year.
Budget planning incorporates a process, which begins at the
department or division level, with budget requests moving upward.
A self-assessment, planning and, budgeting document that clearly
defines the budget policies, guidelines, and processes is used
at the program level in developing program, division, and college
budgets (9.12).
During the Fall 1999, the College Council, Academic Senate, Classified Senate, and the President reviewed the existing budget and planning process to determine how it might be improved by ensuring significant opportunities for consultation with administrators, faculty, and staff throughout the process. A revised planning and budgeting process was recommended by the College Council and adopted by the President, with implementation during Spring 2000(9.7).
Self
Evaluation
The budget and planning process, which the college has adopted
for implementation during Spring 2000, is designed to carry
the college a significant step forward in the integration of
planning and budgeting on the campus. The mechanism now in place
will provide a means for the on-going evaluation of the college's
financial planning and management practices.
Planning
Agenda
The budget and planning process recently adopted will be reviewed
and evaluated annually by the College Council.
A.5 Administrators, faculty, and support staff have appropriate opportunities to participate in the development of financial plans and budget.
Descriptive
Summary
Administrators, faculty, and staff in student services, instruction,
and operations begin the process of evaluating the previous
year's goals and objectives, identifying new goals, defining
objectives, establishing enrollment target figures, and defining
budgeting needs related to staff, equipment, supplies, and facilities
for each function and program.
The process begins with the adoption of college-wide goals and objectives through a collaborative procedure. At the department level there is a review of all relevant research and planning documents, including college research and planning reports, program reviews, and institutional self-studies.
In Instruction, once goals and objectives are established at the program level, they are reviewed and discussed by the division as a whole. The Division Council and dean oversee the planning and budget process to ensure adherence to established district and college budgeting policies and to facilitate the integration of requests emanating form the various departments. At a general division meeting, priorities are established consistent with the division's goals and objectives and budget requests are forwarded to the Instruction Council. The Instruction Council reviews the priorities from each instructional division and combines them to ensure comprehensiveness, equity, and appropriate linkage to college goals and objectives.
Student Services conducts a similar review of programs and services through a collaborative process involving administrators, faculty, and staff. The Student Services Council reviews the priorities from each of the operating units, and, like the Instruction Council, combines them to ensure comprehensiveness, equity, and appropriate linkage to college goals and objectives.
The Administrative Council, comprised of all administrators, academic supervisors, and the College Business Officer, reviews the process and makes recommendations regarding administrative and operations positions.
A Budget and Planning Committee reviews priorities from instruction, student services, and the president/operations and combines them to ensure comprehensiveness, equity, and linkage to college goals and objectives. The composition of this committee ensures that the final budget recommendations have taken into consideration the staffing, equipment, and operational expenses of each of the organizational entities that make up the college community. Members of the committee are College President, Vice President of Instruction, Vice President of Student Services, College Council Chairperson, Academic Senate President, Classified Senate President, a student representative, and the Supervisor of College Business Services (budget officer).
Self
Evaluation
The budget and planning process is designed to ensure that planning
and budgeting decisions are made within a collaborative environment,
tied to college mission and goals, and linked to research. Administrators,
faculty, and staff have adequate opportunity to participate
in the development of financial plans and budgets.
The challenge for the college will be to monitor closely the revised budget and planning process to make sure there is efficient use of time and resources. The consultative process being put into place is expected to result in improved decision-making and should minimize potential conflicts from competing constituencies over the allocation of limited resources.
Planning
Agenda
None.
B. FINANCIAL MANAGEMENT
B.1 The financial management system creates appropriate control mechanisms and provides dependable and timely information for sound financial decision-making.
Descriptive
Summary
The San Mateo County Community College District uses the Banner
system for its financial management. All divisions at the college
utilize the system for creating purchase requisitions, processing
budget transfers, reviewing budget availability, tracking expenditures,
approving expenditures, and running financial reports. Monthly
financial reports in hard copy form are also produced and distributed.
These reports are generated approximately two to three weeks
following the end of each month to allow sufficient time for
posting payroll and other expenditures. The financial information
is available on-line as well.
One of the most useful features of the Banner financial system is the ability to run reports for specific fund, division, program, or activity expenditures. For more complex reports, users are able to download data from the Banner system using Simplified Data Access (SDA). The data is extracted according to the parameters desired and downloaded to Microsoft Excel or other spreadsheet software where it can be manipulated to meet the user's needs.
Purchase requisitions follow an approval process that generally routes a requisition from the user to the Dean to the College Business Officer and finally to the district Purchasing Office for final approval. If sufficient funds are not available, the requisition will be flagged and can be denied in the approval path. The College Business Officer works closely with the division offices and reviews college accounts regularly to ensure that deficits in specific accounts are cleared.
Self
Evaluation
While the monthly financial statements serve many purposes,
they are generally not useful for obtaining accurate account
balances because of when they are received. The on-line system
provides the most accurate and timely information. However,
because some expenditures (i.e., conference expenses, petty
cash, independent contracts) are reported to the District Office
via paper requests, up-to-the-minute account balance information
is not always available. Some departments and divisions have
found they must still keep manual ledgers to monitor account
balances.
The Banner system is not entirely user friendly. The amount of time required to train a new user is significant, and the manuals available are not viewed as helpful. Keystrokes vary from application to application, and users are required either to memorize them or to keep detailed records of step-by-step procedures. An infrequent user often finds the system the most frustrating to learn. Most of the users on the campus find that additional training would be very helpful. The training that has been available has been too general or not thorough enough.
The communication between the district's administrative services offices and the college should be improved. Changes have taken place at the district level without proper communication to the users. For example, a user may find out about a change when a purchase requisition is denied at the district level.
Planning Agenda
1. The District, in collaboration with the College Business Officer, will coordinate with district staff to provide regular training sessions for the Banner financial system, especially for new users.
2. The College Business Officer will discuss with district staff the development of a district fiscal and operations manual that will include fiscal policies and procedures, as well as step-by-step procedures for creating requisitions, processing budget transfers, and reviewing account balances on the Banner finance system.
B.2 Financial documents, including the budget and independent audit, reflect appropriate allocation and use of financial resources to support institutional programs and services. Institutional responses to external audit findings are comprehensive and timely.
Descriptive
Summary
In accordance with mandates of the Education Code and the District's
established policy (9.13), an annual audit of the district's
books and accounts is conducted by an independent auditor. In
recent years, the firm of Vavrinek, Trine, Day & Cop., LLP
Certified Public Accountants has conducted the annual audit.
The audit is received annually by the Board at a public meeting.
The audit report and the staff responses to the audit findings
are reviewed by the Board at a subsequent meeting.
The annual audit report is filed with the State Department of Education, the State Controller, and the State Chancellor's Office. Appropriate staff promptly and carefully review findings or recommendations made by the auditors, and adjustments to procedure are made in most circumstances.
Self
Evaluation
The independent financial audit report for the year ending 30
June 1999 (9.14) noted that the district's financial statements
do not include the general fixed assets group of accounts required
by generally accepted accounting principles. Except for the
effect on the financial statements for the omission of the general
fixed asset group of accounts, the auditors found that the financial
position of the district and the results of its operations ended
in conformity with generally accepted accounting principles.
Planning
Agenda
None.
B.3 The institution practices effective oversight of finances, including management of financial aid, externally funded programs, contractual relationships, auxiliary organizations or foundations, and institutional investments.
Descriptive
Summary
The San Mateo County Community College District maintains comprehensive
financial records of all college and district programs, including
Financial Aid, Bookstore, Associated Students, Corporate &
Community Education, and institutional investments. Management
of the District's finances is in accordance with the district's
established Board policy, as well as the California Community
Colleges Accounting Manual, and generally accepted accounting
principles.
At the college itself, the College Business Officer has responsibility for monitoring the budget. Expenditures are reviewed to ensure that the established policies and procedures are followed. The College Business Officer works closely with grant managers on campus to ensure compliance with external guidelines and mandates. In addition, she maintains close contact with district administrative services staff regarding fiscal accountability matters.
Financial management of the Associated Students of Cañada College is the responsibility of the College Business Office under the supervision of the College Business Officer. Monthly Associated Students financial reports are made to the Administrative Services Office of the District where they are monitored and used to prepare quarterly reports to the Board.
Oversight of Financial Aid is made by the Federal Title 4 program for student financial aid, by the State of California financial aid program, and by the college and district. Programs are audited each year, and reports of findings are made to the Board of Trustees.
The Bookstore reports directly to the Director of Budgets at the District Office. The books and accounts of the Bookstore are also audited annually, and findings are reported to the Board of Trustees.
Self
Evaluation
Oversight of the finances of the institution is provided at
both the college and the district level. Financial information
relating to all of the programs of the district is well documented
and is reviewed regularly. Board-approved policies relating
to business operations, district audits, specially funded programs,
investment of district funds, and the district budget are strictly
adhered to.
Planning
Agenda
None.
B.4 Auxiliary activities and fund raising efforts support the programs and services of the institution, are consistent with the mission and goals of the institution, and are conducted with integrity.
Descriptive
Summary
The San Mateo Community College Foundation is a nonprofit California
corporation that operates, not as an auxiliary, but independently
of the Community College District. It is self-supporting, operating
without contributions from Cañada College. The Foundation
is comprised of a board of directors of twenty-two community
leaders, two non-voting administrators from the District, an
executive director, and a clerical worker. The board meets six
times per year.
The Foundation provides the venue for raising scholarship funds for students to attend our college or to acknowledge the academic success of our students as they continue their studies. This comprises approximately half of The Foundation's expenditures. The other half of The Foundations expenditures goes towards raising funds for key projects and programs that cannot be funded through the college's general funding.
Specific programs funded by The Foundation include the East Palo Alto Gateway Project that has provided Cañada College with $35,000 to support students enrolled in a computer technician program, the Child Care Center, the library, the writing lab, the Freshman Success program, the soccer field, the theatre remodeling, and our annual Arts & Olive Festival.
Self
Evaluation
The Foundation produces an annual report (9.15), which is distributed
widely and includes information about its activities to support
the three colleges. Also included in the annual report are its
financial statements.
The independent financial audit report for the year ending 30 June 1999 noted that The Foundation and the results of its operations and its cash flows for the year were in conformity with generally accepted accounting principles.
Planning
Agenda
None.
B.5 Contractual agreements with external entities are governed by institutional policies and contain appropriate provisions to maintain the integrity of the institution.
Descriptive
Summary
Contracts are required for annual service/maintenance agreements,
professional services, services involving copyright or licensing,
and facility or vehicle rental. These contracts are submitted
to the Associate Chancellor's Office for review and approval
prior to the time the services are rendered. Board approval
is required for contracted services in the amount of $25,000
or more, except agreements with consulting firms or independent
contractors and public construction contracts, which require
Board approval if they exceed $15,000. Only the Chancellor and
the Associate Chancellor are authorized to sign contracts for
the District. In some cases (e.g., facility rental contracts),
the Chancellor and the Associate Chancellor may empower the
College President or other administrator to sign contracts.
Self
Evaluation
The institutional policies regarding the delegation of authority
for approving and executing contracts, purchasing, and community
use of district facilities are outlined in the San Mateo County
Community College District Rules and Regulations, Chapter 8-Business
Operations (9.16). These policies are strictly monitored by
the Associate Chancellor's Office.
Planning
Agenda
None.
B.6 Financial management is regularly evaluated and the results are used to improve the financial management system.
Descriptive
Summary
As mentioned previously, the San Mateo County Community College
District contracts with an independent auditing firm to complete
an annual audit of the financial management of the District.
The results of the audit are submitted to the Associate Chancellor
and are received by the Board of Trustees.
Under the direction of the Associate Chancellor, a Budget and Fiscal Operations Group (BAFOG) meets twice monthly to review policies and procedures and to make recommendations for improvement of the financial management system, as well as operational improvements in administrative services areas. Included in this group are budget representatives from each campus. In addition, the members of the Chancellor's Council, which includes the College Presidents, evaluate the budget allocation model on an ongoing basis and regularly review fiscal and operational issues of the district. These reviews are made with input from district constituencies, including the District Shared Governance Council.
The San Mateo County Community College District uses Banner for its computerized financial management system. Since the system was first introduced in 1991, customized improvements have been ongoing.
Self
Evaluation
In the Spring1999, a new Associate Chancellor was hired for
the district. As of this writing, the Associate Chancellor has
proposed plans to improve a number of processes and procedures
in the administrative services area, including independent contracts,
conference and travel, petty cash, payroll, grants management,
risk management, purchasing. His goal is to develop an integrated
organizational system that improves efficiency, improves lines
of communication, and develops practical systems.
Planning
Agenda
None.
C. Financial Management
C.1 Future obligations are clearly identified and plans exist for repayment.
Descriptive
Summary
All obligations are clearly identified and segregated in the
District's Annual Budget (9.6). The largest obligations consist
of lease purchase agreements called Certificates of Participation.
These instruments typically span more than one fiscal period
and the current portion of these commitments are accounted for
in the Debt Service Fund. In terms of priority, these on-going
obligations are automatically budgeted for "off-the-top,"
along with other long-term liabilities.
The Certificates of Participation are repaid from well-established unrestricted revenue streams. The District Business Services office maintains a debt service schedule to track and forecast its obligations over an extended period of time.
As of the 1999 fiscal year, the District had approximately $677,000 remaining on its lease purchase agreements and the Certificates of Participation will fully mature during the 2000 fiscal year.
Self
Evaluation
Future obligations are clearly identified and plans exist for
repayment.
Planning
Agenda
None.
C.2 The institution has policies for appropriate risk management.
Descriptive
Summary
The Associate Chancellor is responsible for developing district-wide
risk management policies and procedures. The primary objective
is to manage and assess risk effectively throughout the District.
The Facilities and Operations department assists in this objective
by offering a variety of in-service safety training programs
and providing practical recommendations on ergonomic enhancements
to workstations.
The District has been a member of the Bay Area Community College District Joint Powers Agency (JPA) since 1982. This JPA provides the District comprehensive general liability and property damage coverage in the amount of $100,000 and $250,000, respectively. To enhance its liability and property coverage, the Bay Area CCD JPA joined a statewide JPA (SWACC) and Schools Excess Liability Fund (SELF) to collectively obtain an additional $500 million of coverage.
The agreements incorporate coverage for comprehensive crime, boiler/machinery, fine arts and computer system claims. Under the JPA agreements, the District has a self-insured retention of $10,000 per incident and maintains adequate reserves to cover such claims.
Self
Evaluation
The institution has acceptable policies for appropriate risk
management. The policy regarding its risk management program,
as summarized above, may be found in the San Mateo County Community
College District Rules and Regulations, Chapter 8-Business
Operations (9.16).
Planning
Agenda
None.
C.3 Cash flow arrangements or reserves are sufficient to maintain stability.
Descriptive
Summary
The District maintains a healthy cash flow and sustains adequate
reserves to ensure fiscal stability. Currently, the District's
cash flow for all funds is in excess of $18 million and the
current portion of its reserves for compensated absences and
post-retirement benefits are well in excess of $12 million.
The Unrestricted General Fund maintains a Board established target of approximately four percent of its estimated annual revenue as an unrestricted reserve. The target is within the California Community College Chancellor's Office guidelines for what is considered to be a healthy, viable unrestricted reserve.
Additionally, since the District is heavily dependent on cyclical property tax receipts it generally issues short term Tax and Revenue Anticipation Notes to address potential funding shortfalls and/or unforeseen cash flow deficits. Due to the nature of this debt instrument, it typically generates legal arbitrage gains in excess of $200,000 per year.
Self
Evaluation
Cash flow arrangements and reserves are sufficient to maintain
stability.
Planning
Agenda
None.
C.4 The institution has a plan for responding to financial emergencies or unforeseen occurrences.
Descriptive
Summary
In addition to its unrestricted reserves, the San Mateo County
Community College District's annual budget process creates an
operating contingency to address adjustments to employee compensation
through collective bargaining agreements and/or other unforeseen
events. In the 1999-2000 budget, the General Fund had over a
$2 million dollar contingency. This amount added to the unrestricted
reserve provides a healthy cushion for salary adjustments and/or
unanticipated fiscal needs.
At the college level, local support funds are received from various sources, including the rental of facilities. Some of these funds have been saved during the past few years to create a contingency reserve for the college.
Self
Evaluation
The institution has an appropriate plan for responding to financial
emergencies or unforeseen occurrences.
Planning
Agenda
None.
Supporting Documents
1. San Mateo County Community College District Budget Allocation Model
2. SMCCCD Vision 2000 Statement
3. 2000-2001 Budget Goals Document
4. SMCCCD Educational/Facilities Master Plan
5. SMCCCD Board Report #98-2-1B (Approval of Programs Initiatives to be Funded for 1997-98
6. SMCCCD 1999-2000 Final Budget
7. Cañada College Budget & Planning Process
8. Partnership for Excellence Expenditure Summary
9. Cañada College List of Grants for 1999-2000
10. SMCCCD Five Year Capital Construction Plan
11. Cañada College Self-Assessment, Planning and Budgeting Process
12. March 22, 2000 Board Report, Approval of 2000-2001 Budget Goals and Guidelines
13. SMCCCD Rules & Regulations, Section 8.05
14. SMCCCD Annual Financial Report, June 30, 1999
15. Annual Report, San Mateo County Community Colleges Foundation
16. SMCCCD Rules & Regulations, Chapter 8
