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Accounting and Reporting Policy 210.00

Accounting and Reporting Policy 210.00
Johnson County Community College
Series: 200 Administrative Services
Section: Accounting and Auditing

Cross-Reference: Receipt and Deposit of Funds Operating Procedure 210.01

Applicability: This Policy applies to all Johnson County Community College (“JCCC” or the “College”) departments and operations.

Purpose: The purpose of this Policy is to establish systems of accounting and financial reporting for the College.

Statement:

The President or designee shall develop and implement a chart of accounts, systems of accounting and financial reporting, and procedures necessary to ensure that all funds received and disbursed by the College are received and disbursed in accordance with College policies and operating procedures, applicable laws and regulations, and accounting principles generally accepted in the United States of America.

The fiscal year for the College shall be the twelve-month period beginning on the first day of July in each year and ending on the last day of June in the succeeding calendar year.

The President or designee shall present a monthly report to the Board of Trustees (the “Board”) that summarizes activity within the various funds maintained in the College’s accounting system. At minimum, the report shall include the General/Post-Secondary Technical Education Fund unencumbered cash balances, as well as the difference between budgeted and actual costs of goods and services encumbered during the current fiscal year.

Date of Adoption: 07/06/1982
Revised: 02/16/2017, 07/21/2022 (renumbered from 210.01; renamed from Accounting System Policy; material incorporated from Fiscal Year Policy 210.02 and Financial Reporting Policy 210.03)