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Riverside Community College District
Leadership AcademyFinance 101 Presentation
April 8, 2011
Presented by:Aaron S. Brown
Associate Vice Chancellor, Finance
Administration and Finance- Organization Chart -
Associate Vice ChancellorFinance
Aaron S. Brown
Riverside Community College DistrictAdministration and Finance
Vice ChancellorAdministration and Finance
James L. Buysse
Executive Administrative Assistant
Charlotte Zambrano
Associate Vice ChancellorInformation Services
Steve Gilson
DirectorAdministrative Services
(Vacant)
Administration and Finance- Mission Statement -
The mission of Administration and Finance is to provide service in support of excellence in community college education. We strive to provide innovative, efficient and quality support services to the RCCD community in an environment of rapid change, resource constraints, and ever increasing demands. We also serve as the District’s interface with external groups in the areas of budget, accounting, risk management, procurement and finance, and we play a major role within the District relative to accountability in terms of resource utilization.
In sum, the District’s Administration and Finance unit provides leadership and accountability for fiscal management, business services, annual audits, risk management, procurement and information technology systems.
Finance- Organization Chart -
ControllerBill J. Bogle, Jr.
Accounts Payable Specialist
Melissa Elwood
Administrative Assistant, IVVickie Vega
Accounts Payable Specialist
Lynn Brookens
Accounts Payable Specialist
April Tulod
Riverside Community College DistrictFinance Department
Revenue/Accounts Receivable Clerk
Julie Litke
Capital Asset Inventory Technician
Francisco Castro
Payroll ManagerKhaled Khalil
Payroll TechnicianSue Pagano
Payroll TechnicianCindy Hein
Payroll TechnicianJessica Aldasoro
Payroll TechnicianNikki Cook
Payroll TechnicianCathy Bailey
Payroll TechnicianSendy Powell
Auxiliary Business Services Bookkeeper
Karen Wagner
Auxiliary Business Services Bookkeeper
Christine Pearne
Associate Vice ChancellorFinance
Aaron S. Brown
Budget Director(Vacant)
Budget AnalystSherrie DiSalvio
Budget AnalystMisty Griffin
Budget AnalystErin Torres
Junior Accounts Clerk(Vacant)
Budget AnalystMichele Arnold
Purchasing ManagerMajd Askar
Purchasing Specialist
Melissa Griffith
Purchasing Specialist(Vacant)
Purchasing ClerkDiann Thursby
Finance- Mission Statement -
The District’s Finance unit, consisting of Finance, Budget, Accounting Services and Purchasing, provides superior customer service to the District’s students, faculty, staff, and to the public in the areas of financial management, maintenance of fiscal integrity, budgeting, accounting, and cash management.
This is accomplished by a professional and dedicated staff through adherence to, and compliance with, sound business practices, policies and procedures, and regulatory agencies’ requirements. These measures ensure that District resources are safeguarded and the financial stability and viability of the institution is maintained to continue to provide the highest quality educational services at the District’s three colleges and numerous educational centers.
Finance- Functions (continued) -
Accounting Services Internal & External Audit Coordination - District, Foundation & Measure C Internal & External Financial Reporting - Monthly Financial Reports,
Periodic Reports to the Chancellor’s Office Banking Activity Student Financial Aid Disbursements & Reimbursement Requests Foundation Accounting Property & Equipment Accounting - Inventory Records Maintenance for
Land, Buildings & Equipment Surplus Property Management Payroll Services Vendor Payments/Accounts Payable
Finance- Functions (continued) -
Purchasing Soliciting Bids, Quotations & Proposals; Negotiating Vendor Contracts Maintaining Vendor Databases Procure Materials & Services Price Evaluation Promoting District as Equal Opportunity Purchaser
Finance- Functions (continued) -
Finance Budget Development/Strategic Planning Maintain Fund Structure Budget Monitoring Budget Position Control Measure C General Obligation Bond - Resource Allocation & Reporting State Funded Construction Projects – Claims Cash Management & Accountability Grants Accounting, Budgeting & Monitoring Offsite Records Accounting & Maintenance
Finance- Functions (continued) -
Accounting Services Internal & External Audit Coordination - District, Foundation & Measure C
• RFP Process• Coordination• Supplying Documentation/Responding to Inquiries• Grants/Categorical Programs• Follow-Up To Findings• Perpetual Audit Process
Internal & External Financial Reporting - Monthly Financial Reports, Periodic Reports to the Chancellor’s Office
• CCFS-311Q (Quarterly Report)• CCFS-311 (Annual Budget and Actual Report)• CCFS-323 (Enrollment Fee Report)• Faculty Compensation/Office Hours/Health Insurance• IPEDS (Federal)• Gann Limit (Appropriations)
Finance- Functions (continued) -
Accounting Services (Continued) Internal & External Financial Reporting - Monthly Financial Reports,
Periodic Reports to the Chancellor’s Office• Monthly Budget/Actual Financial Report to Board• Surplus Board Report• Monthly Budget/Actual Financial Report to Board• Surplus Board Report• Audit Board Reports• Payroll Reports• Grants/Categorical Periodic Reports• W-2s• 1099s
Banking Activity• RFP Process• Credit Cards
Finance- Functions (continued) -
Accounting Services (Continued) Banking Activity
• Deposits (Enrollment Fees and all other receipts)• Cash Flow• Investments
Student Financial Aid Disbursements & Reimbursement Requests• Drawdown Requests• Accounting/Reconciliations• Check Preparation/Direct Deposit Preparation• Debit Card Management• Banking Activity (Check Clearing/Fraudulent Checks/Funds)• Audit Process
Foundation• Accounting• Banking• Investments• Liaison to the Foundation Board
Finance- Functions (continued) -
Accounting Services (Continued) Property & Equipment
• Accounting - Inventory Records Maintenance for Land, Buildings & Equipment• Surplus Property Management
• Board Reports
Payroll Services• Calculations• Service to Individual Employees• Coordination with all Departments and RCOE• Leave Accounting• Payroll Distribution• Retirement Accounting• PARS• Compliance with Bargaining Unit Contracts
Vendor Payments/Accounts Payable
Finance- Functions (continued) -
Accounting Services (Continued) Accounts Payable
• Vendor Payments• Contract Provision Compliance• Purchase Order Administration• Credit Card Administration• Travel Reimbursements• External Reporting• Vendor Communication• Coordination with Departments and RCOE• Cash Management
Internal Controls• Overlays Everything/Paramount Importance
Finance- Functions (continued) -
Purchasing Solicits Bids for Public Works Projects Solicits Quotations & Proposals under UCCAP Compliance with Public Contract Codes Negotiating Vendor Contracts Maintaining Vendor Databases Assist with the procurement of Materials & Services Price Evaluation Coordinates with Departments and Construction Management Firms Promotes District as Equal Opportunity Purchaser
Finance- Functions (continued) -
Finance Budget Development
• State of California – Funding Model• Apportionment (General and Categorical)
• Basic Allocation + Base Workload + COLA + Growth = Total Computation Revenue
• Basic Allocation (Multi College District with Three Colleges = $10.5 million)• Base Workload (FTES x FTES Rate = 26,051 x $4,564 = $127.2 million)• FTES = Full-Time Equivalent Students (Credit, Non-Credit, Enhanced NC)• FTES = 15 hours of instruction x 17.5 weeks x 2 semesters = 525 Hours• COLA = Cost of Living Adjustment• Growth = Growth Rate x Base FTES• Deficit (Property Tax or Enrollment Fee Shortfall)• Total Computational Revenue – Property Taxes – 98% of Enrollment Fees =
Net Apportionment• Approved Center = Additonal Basic Allocation - $1 million
Finance- Functions (continued) -
Finance Budget Development (Continued)
• State of California (Continued)• Categorical Programs:• DSP&S• EOP&S• CalWORKS• Matriculation
• Strategic Planning/Executive Cabinet• College and District Strategic Planning Committees• Sub-Committees• Program Review
• Enrollment Management Committee• Develop Enrollment Policies• Forum for Enrollment Allocations/Recommend to Executive Cabinet
Finance- Functions (continued) -
Finance Maintain Fund Structure
• Resources• 1000 – General Operating (Unrestricted)• 1050 – Parking (Restricted)• 1070 – Student Health (Restricted)• 1080 – Community Education• 1090 – Performance Riverside (Unrestricted)• 1110 – Bookstore (Unrestricted)• 1180 – Redevelopment (Restricted)• 1190 – Grants and Categorical (Restricted)• 3200 – Food Services (Special Revenue)• 3300 – Child Care (Special Revenue)• 4100 – State Construction and Scheduled Maintenance (Capital Projects)• 4120 – Non-State Funded Capital Outlay (Capital Projects)
Finance- Functions (continued) -
Finance Maintain Fund Structure
• Resources• 4130 – La Sierra Capital (Capital Outlay• 4160 – GO Bond – Measure C (Capital Projects)• 4170 – GO Bond – Measure C Cap Appreciation Bonds (Capital Projects)• 4180 – GO Bond – Measure C Build America Bonds (Capital Projects)• 6100 – Health and Liability (Self-Insurance)• 6110 – Workers’ Compensation (Self-Insurance)• Federal Financial Aid• State Financial Aid • ASRCCD
Finance- Functions (continued) -
Finance Budget Monitoring
• Due Diligence• Legal, Regulatory and Policy Compliance• Budget Transfers• Chart of Account Maintenance• Proper Budget Coding• Budget Analysis
Budget Position Control• Maintain accountability over all authorized positions (All Resources)• Make Cost Projections Associated with New Positions• Account for the Allocation of Positions between Resources• Salaries and Benefits = 85.6% of Total Expenditures (Resource 1000)• Academic $64.6M; Classified $32.1M; Benefits $29.4M = $126.1M
Finance- Functions (continued) -
Finance Measure C General Obligation Bond (Prop 39 - $350M)
• Budget and Accounting• Due Diligence• Audit (Financial and Compliance)• Reporting (Citizen’s Bond Oversight Committee)• Cash Management• Series Issuance (Sizing, Underwriters, Rating Agencies, Attorneys)
State Funded Construction Projects – Claims• Budget and Accounting• Compliance• Reporting• Claims Preparation and Submission
Finance- Functions (continued) -
Finance Cash Management & Accountability
• Cash Flow Projections and Monitoring• Apportionment Deferrals
• $26 Million out of $100 million• Tax and Revenue Anticipation Notes (TRAN)• Cash with County Treasurer• Independent Banking Activity• Regulatory Requirements
Grants • Application Assistance• Budget and Accounting• Reporting Oversight• Cash Drawdowns• Audit Assistance• Board Resolutions