19.12 Institution systematically evaluates its fiscal condition and financial management of the financial operation including appropriate internal and external mechanisms which ensure financial stability.
The Chief Financial Officer (CFO/Business Manager) reports to the President and Administrative Committee during regular weekly meetings. The Finance Office prepares financial reports during the first few weeks following the end of each month as well and these are distributed to the Administrative Committee and Board of Directors which includes the President of the College. The finances are reviewed by the Board in each session and the Finance Committee of the Board is available to advise the CFO in between meetings (this is an informal process). The CFO presents the financial highlights of the organization to the Cooperating Board each year as well as the faculty and staff during in-service meetings. An external audit is conducted after each fiscal year.
Exhibit: Administrative Committee Minutes in College Office
Exhibit: Board Minutes in College Office