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COMPREHENSIVE STANDARD CS R4:
The institution exercises appropriate control over all
its financial and physical resources.
| X |
Compliance |
| o |
Partial Compliance |
| o |
Non-Compliance |
The Collin County Community College District (CCCCD) maintains
appropriate control over its financial and physical resources.
Policies and procedures to maintain these controls are outlined
within the CCCCD Board Policy Manual (Reference
1) and the Business Procedures Quick Reference Guide
(Reference 2). The Business Office is
structured to facilitate control over these resources and
is centrally organized under the Vice President of Administrative
Services and Chief Financial Officer (CFO), who reports
directly to the President (Reference 3).
The Vice President of Administrative Services and CFO presents
monthly reports to the President and the CCCCD Board of
Trustees (Reference 4).
The key functional areas reporting to the Vice President
of Administrative Services and CFO include the following
(Reference 5):
- Accounting
- Auxiliary services
- Budget control
- Cash management and investments
- Construction management
- Financial reporting
- Information systems
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- Internal audit
- Inventory control
- Plant operations
- Purchasing
- Safety and security
- Risk management
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The financial reporting and accounting system follows generally
accepted principles of institutional accounting, state and
federal mandates. An independent certified public accounting
firm conducts an annual fiscal audit of the financial system
which indicates that the District’s financial statements
are presented fairly and the District demonstrates effective
internal control over its financial system (References
6, 7, 8, 9, 10, 11). The annual audit is reviewed by
the Audit Committee of the CCCCD Board and approved by the
CCCCD Board of Trustees.
The Vice President of Administrative Services and CFO, under the
direction of the President, is responsible for coordinating
the development of the annual budget (Reference
12). A detailed annual budget is broken down by cost
center and prepared each fiscal year. The operational budget
development process involves the President, Vice Presidents,
Provosts, Deans, directors, and cost center managers, with
input from faculty and staff, working together to produce
the annual budget. The final budget is reviewed and approved
by the Board of Trustees. The Business Office provides all
cost center managers with monthly reports of expenditures
that include information for budget comparisons and control
purposes (Reference 13).
Collin County Community College District has a centralized
purchasing department that follows purchasing thresholds
as required by local policy and state statutes. The Purchasing
Department is responsible for identifying sources of required
goods and securing the purchase while adhering to applicable
Board of Trustees policies and governmental codes. The CCCCD
purchasing policies are defined on the District’s intranet
site (Reference14) and must be strictly
adhered to by all staff and faculty.
The Business Office maintains a formal inventory control
system of physical assets. Periodic physical inventories,
for each cost center, are performed to verify the physical
resources in each department. Control over the District’s
physical facilities is maintained by the Facilities Plant
Operations Managers. The District also maintains a Safety
and Security Office which protects the assets of the District.
The District exercises appropriate control over cash, receivables,
and disbursements as referenced in the Business Office Quick
Reference Guide (Reference 2). The District’s
investment policy defines the overall investment guidelines.
The Vice President of Administrative Services and CFO provides
quarterly investment reports to the President and Board
of Trustees (Reference 15).
The District’s Risk Management Plan (Reference
16) provides overall guidance related to levels of insurance
and risk assessment. A risk management consultant reviews
risk and makes recommendations concerning the District’s
level of insurance coverage. Various risk control surveys
(Reference 17) are also conducted during
the year by external insurance companies as part of the
District’s loss control. The Vice President of Administrative
Services
and CFO is responsible for recommending the insurance coverage
for the District to the President and the Board.
Supporting Documents:
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