AGENDA ITEM BACKGROUND TO: GOVERNING BOARD DATE FROM: PRESIDENT March 7, 2011 SUBJECT: Quarterly Financial Status Report CCFS 311Q REASON FOR BOARD CONSIDERATION ENCLOSURE(S) ITEM NUMBER ACTION A.6 Page 1 of 5 BACKGROUND: AB2910, Chapter 1486, Statutes of 1986, requires California Community College Districts to report quarterly on their financial condition. The process is as follows: After the end of each quarter, each District will prepare the quarterly report form, CCFS 311Q. The District chief executive officer and chief business officer certify the accuracy of the data and present the report to the Governing Board. The District Governing Board is to review the report at a regularly scheduled meeting and enter it into the minutes of the meeting. District staff submits the report to the Chancellor’s Office 45 calendar days following the end of the quarter. The financial status of the District, as of the second quarter of the fiscal year, is according to budget expectations. FISCAL IMPACT: None RECOMMENDATION: It is recommended that the Governing Board accept the report, CCFS 311Q Quarterly Financial Status Report, and order its inclusion on the official minutes of the College. Administrator Initiating Item: Graciano Mendoza Victoria Lewis Academic and Professional Matter If yes, Faculty Senate Agreement Senate President Signature 1 Yes No Yes No Final Disposition Approved 2 3 4 5