Riverside Community College District

Leadership AcademyFinance 101 Presentation

April 8, 2011

Presented by:Aaron S. Brown

Associate Vice Chancellor, Finance

Administration and 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

Finance- Functions (continued) -

Finance Offsite Records Storage

• Inventory Management• Accounting• Record Retention• Retrieval and Submission Coordination

Questions???