AR 6300: Fiscal Management

The overall management of the fiscal affairs of the college shall be the responsibility of the college president. The general management of the budgeting and accounting process of the college shall be the responsibility of the vice president of finance and administration.

The college adheres to the following principles for sound fiscal management:

• Provide for responsible stewardship of available resources.
• Provide for safeguarding and managing college assets to ensure ongoing effective operations; maintenance of adequate cash reserves; implementation and maintenance of effective internal controls; determination of sources of revenues prior to making short-term and long-term commitments; establishment of a plan for the repair and replacement of equipment and facilities.
• Provide an organizational structure that clearly delineates fiscal responsibilities and staff accountability.
• Provide that the appropriate administrators keep the Board of Education current on the college's fiscal condition as an integral part of policy and decision-making.
• Provide for developing and communicating fiscal policies, objectives, and constraints to the board, staff, and students.
• Provide an adequate management information system that gives timely, accurate, and reliable fiscal information for planning, decision-making and budgetary control.
• Provide appropriate fiscal policies and procedures and adequate controls to ensure that established fiscal objectives are met.
• Provide a process to evaluate significant changes in the fiscal environment and make necessary, timely, financial, and educational adjustments.
• Provide both short-term and long-term goals and objectives and broad-based input coordinated with college educational planning.

• 2 Code of Federal Regulations Parts 200.302(b)(6)-(7), 200.305, and 200.400 et seq.;
• NWCCU Standard 2.E.1, 2.E.2, 2.E.3
• ORS 341.290