The fiscal stability of the institution; (Fiscal Stability of the Institution)

     X    Compliance         Partial Compliance         Non-Compliance

Narrative: The legal authority and operating control of the College are clearly defined for areas related to fiscal stability. The SC Code of Laws and the Area Commission Bylaws provide the Area Commission with the legal authority to approve an itemized current operating budget, to have the accounts audited in accordance with the approved financial reporting system, and to compile required annual reports.

The clear definition of authority and control is manifested in actual practice. The Area Commission reviews the budget and monthly financial statements at its regular meetings.

The operating control of fiscal stability is delegated by the Area Commission to the College President. The President has the full authority and responsibility for the operation of the College under the rules and regulations of the Area Commission, the South Carolina State Board for Technical and Comprehensive Education, and budgets approved by the Area Commission.

Evidence of Support: