Chief Financial Officer - Goals
Service– The Chief Financial Officer's area seeks to provide quality services to our internal and external customers in a timely, consistent and professional manner.
Fiscal Responsibility – The Chief Financial Officer's area seeks to provide the College with the highest, most accurate, level of fiscal management, control and accountability in accordance with institutional, local, State and Federal laws, rules, regulations and guidelines.
Communication – The Chief Financial Officer's area seeks to communicate with internal and external customers in a manner appropriate to the situation. We seek to provide the highest level of pertinent information in a form that is friendly to the end-user.
Performance Measures and Standards
Measure I: Customer Satisfaction
Assesses: Goal 1 – Service
Goal 3 - Communication
The Chief Financial Officer's area strives to provide both service and communication that meet the demands of our internal and external customers. As such, two instruments are primarily used in measuring how well we are meeting those demands. The first instrument is called a “Quality Card” and can be used to evaluate services provided by any unit within the Chief Financial Officer's area. The second instrument is a satisfaction survey wherein response is solicited from customers.
Methodology and Data Source
Quality Cards are available in several locations across campus; in any location where a function within the Chief Financial Officer's area takes place. Customers may, at their will, complete the card on-site or take it with them. Quality Cards can be deposited at the site of service or sent to the Chief Financial Officer's Office via inter-office mail or deposited in a drop box just outside the Chief Financial Officer's Office. Cards are routinely collected monthly in conjunction with timesheet collection. The cards are then logged and the data on them summarized for review by the Chief Financial Officer. The results are communicated back to the unit and are also used for performance evaluation purposes. The Administrative Secretary to the Chief Financial Officer performs the collection and summarization processes.
The customer satisfaction survey is distributed annually to a sub-set of internal and external customers. Completed surveys are returned to the Division of Planning and Research for objective compilation of results. The results related to the Chief Financial Officer are used to improve the efficiency, effectiveness and overall performance of the Chief Financial Officer's area.
Quality Cards are retrieved and analyzed monthly. Feedback to the functional unit, based upon information on the Quality Cards, occurs on a monthly basis.
The Customer Satisfaction Survey is conducted on an annual basis.
Quality Card results are expected to return an overall rating of 80% “Acceptable” or “Exceeds Expectations” responses in total and per functional unit.
Customer Satisfaction Survey (under construction with assistance from the Division of Planning and Research). (Baseline data will be collected and a standard will be established for the customer satisfaction survey.)Performance Measures and Standards
Measure II: Audits
Assesses: Goal 2 – Fiscal Responsibility
Based upon revenue, expenditure and other economic transaction data gathered throughout the fiscal year, the college produces annual financial statements. The statements are produced in accordance with GASB rules and regulations and required reporting formats. These financial statements are forwarded to the Office of the State Controller (OSC), where the results are combined with those of the other fifty-eight (58) community colleges in the State of North Carolina. The combined results of operations are included as part of the State of North Carolina Consolidated Annual Financial Report (CAFR).
Subsequent to the financial statements being sent to the OSC, the State Auditor’s Office arranges an on-site, independent audit. This annual audit is intended to verify the accuracy of the data and additional information contained in the financial statements as well as to review and observe the college’s general operating procedures, including a review of our internal controls. These reviews are meant to safeguard and provide oversight of taxpayer-appropriated receipts.
Methodology and Data Source
The financial audit conducted by the State Auditor’s Office is intended to provide an objective, professional review of the financial statements already submitted to the OSC. It is also intended to review financial and/or administrative operations for deficiencies in internal controls and/or segregation of duties. This external, independent audit is conducted to provide the President of the College assurance that financial/fiscal operations are being conducted properly. It is also conducted to assure other agencies of State government (OSC, State Treasurer) that the college is a good custodian of taxpayer funds.
The college’s financial statements are based on fiscal year data for the period July 1st through June 30th. The annual financial audit is conducted by the State Auditor’s Office in a timeframe conducive to the regional office’s workload and is generally prior to the close of the next fiscal year.
No material findings and no material adjustments.