Standard 9

Standard Nine:

Financial Resources

The institution has adequate financial resources to achieve, maintain, and enhance its programs and services. The level of financial resources provides a reasonable expectation of financial viability and institutional improvement. The institution manages its financial affairs with integrity, consistent with its educational objectives.

Financial Planning

9A1 Financial planning supports institutional goals and is linked to other institutional planning efforts.

Descriptive Summary

The District�s philosophy, mission, and beliefs are stated in the 1998-99 College Catalog, page 2. The District�s vision, mission, and goals are also stated in The Driving Force pg. 9-16 and are elaborated upon in greater depth in the remainder of the document. Each division has a mission and goals based upon the District�s umbrella, vision, mission, and goals. Budget managers are requested to build their budgets based upon these. Administrative review occurs to ensure that this happens.

The Chancellor�s Office publishes reports which clarify goals for the system, e.g., student access and diversity. The Governor�s and community college budgets also define goals for districts. For example, funds allocated on the basis of use: growth (access), instructional equipment, facility maintenance/repair and telecommunications place limits on expenditures. Other funds allocated with specific limitations and purposes include, among others: Disabled Students Programs and Services, Extended Opportunity Programs and Services/Cooperative Agencies Resources for Education, Matriculation, CalWORKS, and Financial Aid Administration funding.


Self Evaluation

The budget development process emphasizes accomplishing district vision, mission, and goals. The administrative and governance review processes help assure that this occurs. Administrative review ensures that budget allocations reflect the mission and goals of the district, and that funds are used as required by specific programs.

An example of putting the strategic plan and Education Master Plan into action through the budget planning process is implementation of computer technology for teaching, communication, data collection, data reporting, and use of data for planning. This includes 600 plus student computer learning stations, faculty computers, and service computers. All computers are at least 586 generation and connected to the district fiber optic network, the 4C/Net, and the Internet.

Planning Agenda



9A2 Annual and long-range financial planning reflects realistic assessments of resource availability and expenditure requirements. In those institutions which set tuition rates, and which receive a majority of funding from student fees and tuition, charges are reasonable in light of the operating costs, services to be rendered, equipment, and learning resources to be supplied.


Descriptive Summary

Annual and long-range financial planning reflect state and national economic projections, as well as analysis of District population growth and employment trends. As with other California community colleges, the District is largely state financed, 93.28%; therefore, the District is dependent upon tax revenues which flow into state coffers and the accuracy of Department of Finance projections of property tax, income tax, sales tax, and other state revenues and a fair distribution of Proposition 98-based revenues. Based upon the Governor�s budget in January, an estimate of revenues is established for budget planning purposes. This estimate is updated based upon the Advanced Apportionment;4 P-1;5 the May Revise; P-2;6 and the Allocation of Revenues for the Approved General Operating Budget. Determinations are made, based upon Cost of Living Allowance, Growth and/or Equalization projections, as to personnel (faculty, classified, management) and other human resource issues. Estimates of other expenditures are developed: supplies, contracted services, equipment, general fund reserve, contingency and liability funds.

Determination of faculty positions is collaboratively accomplished between the District administration and the Faculty Senate. Classified and management positions are determined out of a budget priority ranking process.7 These are financed from Growth Revenue Allocations. State regulations also drive the use of Growth funds for this purpose, e.g., the full-time faculty obligation.

The District has assumed the position that it is a state assisted institution; therefore, it must aggressively seek alternative sources of revenues and resources. One of the resources that the College is entitled to is non-resident tuition. Each year the tuition rate is set based on a formula developed by the State.8 The District has three options in setting the rate: they may accept the statewide average, the rate charged by any contiguous District, or their calculated cost of attendance. Another resource comes from State and Federal grants.

The District administration views state funding as "state assisted funding." As a result, the District has been proactive in deriving revenues and cost savings from a variety of sources, e.g.:





























  • Electrical Interruptible program
  • Computerized energy management system
  • Energy conservation project
  • Central Plant Upgrade, which includes pre-cooling and irrigation process from well water
  • Pay telephone contract
  • Pooled electricity and gas JPA
  • Exclusive beverage agreement
  • Leasing food vendor space in Student Activities Center
  • TRANs
  • Bid/RFP processes
  • Long distance telephone services
  • Coin-operated copy machines
  • Coin-operated student lockers
  • COP bond restructuring

Through the restructuring of Certificate of Participation (COPs), the District has removed the long-term debt liability by investing in Government Investment Contracts (GI Cs) at a higher rate of return. The difference of 3.75% between the investment interest rate and the debt interest rate allows future payments to be made from interest earnings.9 Evidence of the performance of the investments is reflected in the April 1, 1998, performance document from Anchor National.10 For the period June 1, 1998-October 28, 1998, the borrowing rate was 2.8380, a 4.912% difference.11

Financial planning includes provisions for earning all State and Federal funds for which the District is eligible. For example, the process includes an annual FTES goal of 2 to 3% greater than the FTES funded cap.7 This assures reaching the cap and makes the District eligible to earn basic skills supplemental funds.

The District is currently one of 35 districts tied for the lowest FTES funding level in the state.12 It is currently funded at 52.83 % of program-based funding standard in 1997-98. This compares with the state average of 53.90%. Instead of being funded at a $36.7 million level, the district is funded at $19.9 million.


Self Evaluation

The process considers probable state funding priorities and levels resulting in a Tentative Budget for Board of Trustee review and a "final" budget for adoption at the September meeting. These fulfill code requirements.

The annual financial budget reports include the calculation of the 50% law. For the past five years, the District has consistently been in compliance with this regulation. This is also true for the 75/25 requirement for full-time faculty.

The District has consistently established FTES funding goals which reflect state allocations and have achieved these.7 This has resulted in the District earning all funds allocated to it. This includes categorical programs as well. All monies received by the District are deposited through the County and are placed in an income-earning account. The County maintains an accounting of the District�s income and expenses and posts transactions daily. Financial records are open to all interested persons.


Planning Agenda

1. The College will pursue increasing the number of contract-based courses and other alternative sources of revenues which would generate additional income for the District.

2. The College will continue to reach an FTES goal of 2-3% higher than the FTES-funded cap.

3. The College will seek alternate sources of revenues and resources.


9A3 Annual and long-range capital plans support educational objectives and relate to the plan for physical facilities.


Descriptive Summary

In planning for the future financial needs of the District, the goal is to attain quality educational programs, technology and physical plant by employing District financial resources assertively and creatively based on the Educational Master Plan.

Victor Valley College�s planning and implementation process are designed to link education, technology, and the physical plant with financial planning. The budget development processes are designed to implement District goals and priorities.13

Facility planning processes assure the District of gaining State funds for facilities for which the District is eligible. Scheduled maintenance funds are aggressively sought by the District to ensure gaining State funds to maintain facilities.14 Finally, the District has aggressively worked to ensure that Auxiliary Services are self-supporting and independent of the general operating budget of the District.


Self Evaluation

As the California community college state funding process is a political process and largely dependent upon international, national and state economic factors, it is difficult to forecast more than two to three years into the future. The District protects its financial integrity by:











  • Not exceeding 75 % of budget for human resource expenditures
  • Limiting use of Growth revenues to support Growth related expenditures
  • Maintaining at least a 5 % General Operating Budget reserve
  • Maintaining a $1 million Restricted Reserve
  • Making auxiliary service enterprises self supporting

The District master planning for facilities directly reflects the educational master plan for the District.


Planning Agenda

1. The College will attain quality educational programs, technology and physical plant by employing District financial resources assertively, creatively, yet prudently.

2. The College will ensure that auxiliary services remain self-supporting and independent of the general operating budget of the District.

3. The College will maintain at least a 5% general operating budget reserve and a $1 million dollar restricted reserve.


9A4 Institutional guidelines and processes for financial planning and budget development are clearly defined and followed.


Descriptive Summary

The processes for developing the budget are clearly defined and implemented through fiscal services. Through electronic and voice mail, as well as hard copies to budget managers, all team members are encouraged to participate in the development process. The College Assembly serves as the governance committee in the budget review process. The College Assembly consists of representatives from administration, management, faculty, classified, and student organizations.15

Each year the Board of Trustees adopts a budget calendar.16 It serves as a guide for the Board of Trustees and Administration so that a budget is developed in a systematic manner. A budget development process goal is to communicate budget augmentations to budget managers prior to the end of the spring semester so that instructional departments can commence preparations for the upcoming academic year.

The Superintendent/President administers the budget in accordance with the policies and procedures of the Board of Trustees. The day-to-day administration of the budget is delegated to the Vice President of Institutional Infrastructure.

During the fiscal year, the Board of Trustees reviews budgeted revenues and expenditures and makes revisions as deemed necessary.17 The Board approves transfers between budget classifications as appropriate.18 The budget administrative processes are evaluated by the Administrative Team with both process and content considered.

The final annual copy of District financial reports is retained by the Director of Fiscal Services. These financial statements break down revenues, expenditures, year-to-date cash flow, and fund balances for each of the following funds:19





















  • General Fund
  • Food/Vending
  • Bookstore
  • Capital Projects
  • Child Development Center
  • Self-Insurance
  • Associated Student Body
  • Student Financial Aid
  • Bond Repayment
  • Debt Service Fund


Self Evaluation

Augmentation requests typically exceed budget capacity. For the past three years the District has been able to fund requests which meet "Absolute: must be in budget" and "High Priority: probably must be in budget" priority standards. The District has significantly upgraded computer technology across campus for classroom, office, service, and administrative use. Significant effort has been put into maintaining quality of facilities, including furniture and equipment. Staffing for both faculty and staff has improved substantially during the past three years. The District continues to exceed its 75:25 faculty ratio. For example, for Fall 1997 the Victor Valley College full-time faculty obligation was 67.3; this compared with actual of FTE faculty of 73.20 For Fall 1998, the faculty obligation is 94.1.


Planning Agenda

1. The District will continue to refine its budget preparation processes to ensure participation and understanding of district finances.


9A5 Administrators, faculty, and support staff have appropriate opportunities to participate in the development of financial plans and budgets.


Descriptive Summary

The District administration believes that the financial status of the District should be open and understood by all groups.

The status of all accounts is available electronically at any time to all faculty and staff through District budget managers, including department chairs. Budget reports for the District may be ordered electronically by department chairs, managers, deans, vice presidents, and the Superintendent/President.

Financial reports are electronically available for bargaining groups, departments, services, administration, and the Board of Trustees. All financial data are maintained on the HP-3000 microcomputer owned and supported by the San Bernardino County Superintendent of Schools.21 The providence of this service is a legislated requirement of the County Superintendent of Schools office and must be made available to each K-12 and community college district within San Bernardino County. The District contracts on an annual basis for other services.

Ongoing training for budget managers and staff is provided to enable them to fully employ the electronic system processes of the District.22

The District has an electronic purchasing process which ensures rapid processing of purchases for budgeted items. The District contract for office supplies ensures next day delivery.

Periodic workshops are held to help budget managers and anyone else interested to understand the electronic accounting process, computer printouts, and other financial accounting processes.22

The Superintendent/President and Vice President evaluate budget augmentation requests and by consensus place these in priority rank for funding.23 The College Assembly acts as an advisory committee for these priority rankings. The priority rankings are then forwarded to budget managers with an opportunity to provide further information to the Evaluation Team. The tentative budget results from this process, and is submitted to the Board of Trustees at the July meeting.


Self Evaluation

The finances of the College are available electronically and/or hard copy printouts to everyone within the district. Training is provided to help employees to understand budget printout and to access budget data through the district computer network. Each year program/department/service budget preparation begins at the budget manager level with opportunity for everyone to participate.


Planning Agenda

1. The College administration will work collaboratively with the classified and faculty bargaining units to ensure the best working environment.

2. The College will continue to train the different departments in the electronic requisition program.

3. The College will streamline purchasing procedures so that the normal turn around time from purchase request to purchase order mailing will be no greater than five working days and from purchase order to payment, no greater than three weeks.



  1. Financial Management


9B1 The financial management system creates appropriate control mechanisms and provides dependable and timely information for sound financial decision-making.


Descriptive Summary

The Vice President of Institutional Infrastructure is responsible for management of finances for the district. The Fiscal Services department processes are structured to provide safeguards against improper or unauthorized expenditures of district funds.

Data, reports, and summaries of revenues and expenditures are electronically accessible by all budget managers. Financial data, expenditure reports and summaries of revenues and expenditures are available through the Director of Fiscal Services by faculty, classified, and management�organizations on an "as needed" basis.21 All of the preceding reflect current revenues, appropriations, reserves, expenditures, encumbrances, and allocations. These are used by the district administration in projecting the financial condition of the district and to assist budget managers in financial accounting.

Self Evaluation

According to the annual independent audits, the District�s financial accounting procedures comply with the California Community College Accounting Manual. Financial statements/reports presented regularly to the district Board of Trustees are prepared, reviewed and distributed in a timely and efficient manner. The District procedures for budgeting, control, proper record keeping, reporting, and internal auditing are sound.


Planning Agenda

1. The College will remain alert to needed budget management controls and provide accurate and timely information for decision-making.


9B2 Financial documents, including the budget and independent audit, reflect appropriate allocation and use of financial resources to support institutional programs and services. Institutional responses to external audit findings are comprehensive and timely.


Descriptive Summary

An annual independent audit of the College financial records and processes is made by a certified public accounting firm each year. The audit covers all funds, accounting processes, and related record keeping processes under the jurisdiction of the District. The audit report includes findings, recommendations and responses. The audit report also contains action taken on prior audit items and recommendations.24

In addition to the independent audit, the County Auditor�s office performs an audit of District financial records and processes of accounts payable. This audit includes findings, comments, and recommendations also.25

The College added an Internal Auditor position this year to help ensure the financial and operating integrity of the district.

As a public non-profit organization, fixed asset records are not maintained and reconciled every year and are, therefore, excluded from the scope of these audits. The Education Code does not require the reconciliation of fixed assets because of the potential mandated cost claim against the state.


Self Evaluation

The College implements as many audit recommendations as possible. The Director of Fiscal Services and Vice President work with auditors to ensure that recommendations are implemented.


Planning Agenda

1. The College will strive for accurate financial documents and to adhere to public accounting standards.


9B3 The institution practices effective oversight of finances, including management of financial aid, externally-funded programs, contractual relationships, auxiliary organizations or foundations, and institutional investments.


The continued expansion of categorical funds continues to make accounting, monitoring, and reporting of categorical programs a major task resulting in expanded workload for the Fiscal Services team. All categorical programs require specific training of staff and ongoing monitoring of expenditures. As exact funding levels for categorical programs is not known until well into the fiscal year, budgeting and expenditure control and monitoring are more complicated than base revenues. Examples of new categorical programs include: child development center funds, instructional equipment, scheduled maintenance, seismic retrofit funds, academic excellence, and telecommunications funds.

Program reviews at Victor Valley College identify needs for specific programs to support the accomplishment of goals.26

The Victor Valley College District Foundation, Inc. is active and coordinates its resource development to fund District-identified priorities. The Foundation has contributed to:











  • technology upgrading of the District
  • furnishing the new Student Activities Center
  • new tennis courts
  • an improved scholarship program
  • An electronically based fixed asset process has been established for computers and peripheral equipment by the District including serial numbers, quantities, cost, vendor, description of the item, and location. The inventory is updated on a continuous basis.


Self Evaluation

The District practices effective oversight of finances including a variety of categorical programs and alternative sources of revenues. It has established an Internal Auditor position to evaluate, and where needed, revise processes.


Planning Agenda

1. The College will provide effective oversight of finances, including categorical and alternative revenue sources. Findings and recommendations of the Internal Auditor will be implemented to improve this effectiveness.


9B4 Auxiliary activities and fund raising efforts support the programs and services of the institution, are consistent with the mission and goals of the institution, and are conducted with integrity.


Descriptive Summary

The Victor Valley College District Foundation, Inc., an independent non-profit corporation governed by its own board of directors, was formed in l975 to raise funds for a Child Development Center and subsequently to raise funds for equipment for a newly-constructed Performing Arts Center on the Victor Valley College campus. The Foundation is currently conducting a $1 million millennium capital campaign to provide equipment and other priority needs established by the District.27, 28

Auxiliary services and enterprises of the District are financially managed to be self-supporting. These services and enterprises include: bookstore, vending/food services, and associated students. These are self-supporting at the direct cost level.


Self Evaluation

Auxiliary service activities and fund raising effects were found to support the mission and goals of the District.


Planning Agenda

1. The College will remain supportive of auxiliary services and fund raising activities which are consistent with its mission and goals.

2. The College will work with the Victor Valley College District Foundation, Inc. to develop fund-raising activities and identify needs that cannot be adequately supported by state funding.

3. The Victor Valley College District Foundation will remain active on behalf of the College by continually updating their fund raising goal and project priorities to meet the College�s needs.

4. The College will create an Auxiliary Foundation to operate its business enterprises.

5. The College will expand revenue sources through the new Auxiliary Foundation and revenue support through the existing Victor Valley College District Foundation, Inc.


9B5 Contractual agreements with external entities are governed by institutional policies and contain appropriate provisions to maintain the integrity of the institution.


Descriptive Summary

Contractual agreements are formulated to be within District policies and include provisions which protect the integrity of the District. This includes bid/RFP documents as well as contracts and agreements. Typically, legal advice and review is employed through a county attorney representative and/or other district legal counsel before completion and agreement. All contracts/agreements with a value greater than $5,000 must be approved by the Board of Trustees.


Self Evaluation

The College, through legal advice and review, ensures that contracts and agreements fulfill policy requirements and protect the integrity of the district.


Planning Agenda

1. The College will continue to adhere to district policies and act on legal review and advice for contracts and agreements.


9B6 Financial management is regularly evaluated and the results are used to improve the financial management system.


Descriptive Summary

Financial statements are presented to the Board of Trustees during their regular monthly meetings. These, as well as pre-board meetings with Board-designated Budget and Finance members to review expenditures and to discuss the financial status of the District, keep the Board of Trustees informed and enable them to make appropriate financial decisions for the District.17


Self Evaluation

Board of Trustees representatives� monthly review of detailed payment reports and the monthly review of financial statements help keep the Board informed as to revenues and expenditures of the district. As a result, the financial management processes are subject to ongoing review which has resulted in continuing improvements.


Planning Agenda

1. An annual financial report of college finances would clarify attainment of goals and help with understanding of college finances.

2. The College will continue to manage the budget in an effective, competent and business-like manner.



  1. Financial Stability


9C1 Future obligations are clearly identified and plans exist for payment.


Descriptive Summary

Future short-term and long-term obligations of the college are identified and planned for:

Short-term obligations, three to five years, include modular unit and equipment purchases. These are part of the ongoing General Fund budget process.29 A long-term obligation of the College includes financing for a Student Activities Center and a property accession. This financing is structured to fit the College�s non-General Fund revenues. Long-term personnel obligations are included in base revenue/expenditure planning for the college. Personnel expenditures currently comprise some 68% of the 1998-99 Adopted Budget.30


Self Evaluation

The College practice is to provide the best education possible with available resources by limiting its General Fund reserve to a 5%-6% range. The short-term obligations of the College are well within its continuing fund capacity. One long-term bond obligation is structured to be self-supporting over its 30-year life.


Planning Agenda

1. The College will refine the use of financial resources through short-term and long-term borrowing.


9C2 The institution has policies for appropriate risk management.


Descriptive Summary

The College is covered by a comprehensive insurance plan which includes property, liability, workers compensation, boilers, gasoline tanks and employee bonding coverage.

The College is a member of the SWACC self-insurance JPA. It is insured at the $25,000 level. The College maintains insurance policies for its gasoline storage and boilers. The College is also a member of the California Community College Coalition for student accident insurance.33

The College is self-insured, supplemented by a joint powers authority to meet its insurance needs. Workers compensation is insured through the Inland Empire JPA; however, it will shift to the Statewide Association of Community Colleges (SWACC), effective July 1, 1998. Property, liability, boilers, and gasoline tanks are covered by SWACC. (SWACC is a JPA comprised of more than 40 California community college which contracts its insurance management through Keenan and Associates). This coverage includes all risk to 100% of replacement cost for buildings and contents. The College has a deductible for property losses of $10,000, and $25,000 for liability losses. Liability coverage is limited to $5 million supplemented by an umbrella liability coverage through the State Education Liability Fund Joint Powers Authority up to $15 million.31

In 1989, the College had a property evaluation appraisal completed to establish values of buildings and equipment. Each year this is updated by Keenan & Associates so that sufficient insurance coverage can be maintained.32

The College also carries student accident insurance, covering enrolled students, including athletes, through a coalition of California community colleges with Student Insurance Inc. The coverage provides secondary medical insurance for students injured in College-sponsored activities and events.33

The College maintains a $75,000 self-insurance fund to ensure its capacity to respond to unscheduled expenditures. The College also maintains a Construction Fund for scheduled maintenance and remodeling projects.19


Self Evaluation

The College�s self-insurance program is the most cost effective alternative available. The College will improve this advantage by transferring its workers compensation program to the Statewide Association of Community Colleges JPA for 1998-99. This is projected to result in a $48,000 annual savings for the College. Participation in the California Community College Coalition for Student Accident Insurance saves the College $25,000 to $30,000 annually, and the College has improved and expanded services for its students.


Planning Agenda

1. The College will maintain a $100,000 vacation liability fund, and will retain other insurance programs.


9C3 Cash flow arrangement or reserves are sufficient to maintain stability.


Descriptive Summary

The Director projects cash flow analysis for the current fiscal year and the next year. This projection lists income, expenditures, and cash balance for the current and succeeding fiscal years. It also shows the cash balance for the previous year. That cash flow analysis provides the basis for determining the need for a TRANs and/or short-term loan for management of the College�s cash flow. As revenues do not flow to the College in a proportional manner and expenditures tend to be front end, this analysis is necessary for smooth financial management of the College.

The College maintains at least a 5% General Fund Reserve and a $1 million Restricted Reserve.19 It is the practice of the College to use its resources to provide educational and related services for present students, not mythical students of some future time. Evidence of this is reflected by the substantial investment in up-to-date computer labs for our students.

Because state and local revenue flow, the College does not correspond to expenditure patterns, the General Fund reserve is insufficient for the cash flow needs of the College. For the past several years, this natural imbalance has been exacerbated by the six to eight week delay between construction expenditures and reimbursement by the state. As a result, the College participates in a pooled TRANs to help manage its cash flow.34

To ensure financial viability, the District has sought non-traditional sources of revenues. These include:







  • Contract Education
  • Independent Foundation28
  • Auxiliary Foundation35

The District is earning revenue through food and vending contracts and an exclusive beverage agreement. It also earned $3 million over the past four years through an investment of bond funds. The District actively pursues federal and state grant programs. An example of this is the Title IV grant the District recently received.


Self Evaluation

The District is in a sound financial condition with at least a 5% reserve, and $1 million Restricted Reserve and $75,000 self-insurance fund. With some 68% of the General Fund budget obligated for personnel related expenditures, the District is able to maintain its equipment and facilities at a reasonable quality level.

The District�s practices of making auxiliary services self-supporting also contributes to the well-being of the General Fund. Included among these services are parking/security, child development center, food/vending, bookstore, and Associated Student Body.

The District manages its cash flow in the most cost effective way available to it through a pooled Tax and Revenue Anticipation Notes (TRANs).36 For 1998-99, the District will increase this advantage by using a 13-month TRANs through the California Community College League. This should result in a $20,000 benefit to the District.35


Planning Agenda

1. The College will work with economic development (Contract Education) to expand participation of local businesses in raising revenues for the college.


9C4 The institution has a plan for responding to financial emergencies or unforeseen occurrences.


Descriptive Summary

A general operation budget reserve of at least 5 % and a restricted reserve of $1 million enables the District to limit the impact of unexpected but necessary expenditures and changes in State revenue allocation amounts upon educational programs and services.20

For financial emergencies, the District maintains at least a 5% General Fund Reserve and a $1 million Restricted Reserve as well as specific liability funds. For emergencies which would exceed these levels, the District would expect special financial support from the state.

State construction funding processes not only impact cash flow management of the District, but potentially the financial stability of the District. This occurs two basic ways. The first is that state funding levels are established for facilities planned five or more years earlier without provisions for changes in technology or needed changes. Seldom are state fund allocations sufficient to pay 100% of construction and equipment/furniture costs. No funds are provided for "moving in." The second is that the Chancellor�s Office has taken the position that construction, while state approved and funded, is a local issue. As a result, resolving construction contractual disputes must be totally financed by the District and any claims awarded against the District is a local problem. The District provides for the first through its Construction Fund; it is not practical to maintain a fund sufficient for construction contract disputes. As a result, the Chancellor�s Office leaves individual Districts vulnerable to disputes with large construction companies.19


Self Evaluation

State funded construction projects present a major financial stability problem for the District. This results from the state construction funding processes and state construction bid processes. Seldom are state funded construction projects fully funded, and bid processes can result in the District having to award bids to marginal construction companies. The District is currently involved in a construction dispute with a value of $6.6 million and which has tied up a $1.4 million Retention Fund.

A reserve of at least 5 percent and a $1 million Restricted Reserve are sufficient to protect the financial integrity of the district.


Planning Agenda

1. The District will be cognizant of state construction funded processes in the developing of future construction projects.


Standard Nine Documents Cited:

  1. Victor Valley College Catalog

  6. Driving Force

  11. C.C.C. Board of Governors 1998-99 Proposed Budget

  16. Advanced Apportionment

  21. P1 1st Principal Apportionment)

  26. P2 2nd Principal Apportionment)

  31. VVC 98-99 Adopted Budget Presentation

  36. Non-Resident Tuition Fee Worksheet

  41. 1994 Capital Improvement Financing Project (COPs)

  46. Anchor National Statement/April 1, 1998

  51. Morgan Stanley Statement/October 22, 1998

  56. Corrected 1996-97 Equalization

  61. 1998-99 Tentative Budget Packet

  66. 1997-98 Scheduled Maintenance

  71. College Assembly Meeting, Campus-Wide Representation

  76. 1998-99 Budget Calendar

  81. Monthly Financial Report/March 10, 1998

  86. Budget Transfers/January 13, 1998

  91. 1997-98 Annual Finance and Budget Report

  96. Full-Time Faculty Obligation, Fall 1997

  101. Financial Activity Report Sample

  106. How to Read your Budget: Electronic Requisitions, Financial Reports, Authorized Requisition Users

  111. 1998-99 Budget Augmentation Packet

  116. VVC Annual Financial Report/June 30, 1997

  121. County of San Bernardino Audit

  126. Program Review

  131. Independent Foundation Articles of Incorporation and Bylaws

  136. Independent Foundation Millennium Campaign brochure

  141. Lease Purchases Annual Payment Schedule/April 17, 1998

  146. 1998-99 Expenditure Budget Chart

  151. 1997-98 SWACC Property and Liability Program

  156. Keenan & Associates Site Report for Underwriters

  161. Student Insurance

  166. Piper Jaffray Report/1997-98 TRANs

  171. Auxiliary Foundation Bylaws

  176. TRANs (Tax and Revenue Anticipation Notes) Board Resolution/February 10, 1998