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Pima County Community College District Board Policy

Board Policy Title:  Financial Controls and Institutional Budget
Board Policy Number:  BP-2403
Adoption Date: 12/17/80
Revision Date(s):  11/10/09, 7/18/14
Review Date(s):  7/18/14
Schedule for Review & Update:     Annually
Unit Responsible for Review & Update:  Finance and Administration
Sponsoring Unit/Department:   Finance and Administration
Motion Number:  4048
Legal Reference:   ARS §§ 15-1444 and 15-1416        
Cross Reference:

The Board of Governors expects the College to exercise prudent financial stewardship and support the College mission by:

  • complying with applicable laws and regulations;
  • effectively and appropriately using College resources;
  • requiring reliable, timely, accurate and transparent information about such use;
  • maintaining adequate resources, contingency plans and reserves; and
  • implementing the budget approved by the Board of Governors

Therefore, the Board of Governors delegates to the Chancellor or his/her designee, authority to

  1. develop financial processes, procedures, and internal controls to manage the assets and financial operations of the College; 
  2. develop an annual budget process in compliance with State law and applicable standards.  The budget shall:
  • support the College’s strategic priorities;
  • ensure the financial stability of the organization;
  • identify sources and amount of anticipated revenues;
  • identify projected expenditures by fund, type and unit.

A report of revenues and expenditures shall be submitted at least quarterly to the Board by the Chief Financial Officer.