RVCC 2019 NECHE Self-Study

Finance Staff
RVCC ensures that it has sufficient professionally qualified finance staff which includes a
full-time Bursar and Senior Accounting Technician and a part-time Student Account
Representative led by a Chief Business Affairs Officer. The BAO holds an MBA and is a
Certified Public Accountant with over 20 years of experience. Prior to coming to RVCC in
August of 2016, the BAO spent time at a large, Ivy-league college; at public schools; and
as an auditor for both national and local firms. The organizational chart outlines the
oversight of the financial staff by the BAO, who also serves on the extended leadership
team at RVCC.
Budgetary Transparency
At RVCC, departments have input into their own budgets. Initial requests are generated
by the faculty and staff themselves who understand what is required to ensure student
needs are being met. Every semester the BAO presents the current financial positon to the
faculty and staff at the All-College Staff Meeting. The BAO gets daily updates from CCSNH
on financial information as well as credits sold so information related to revenue and
expenses can be evaluated daily. On a bi-monthly basis, the BAO updates the President
and senior administration on RVCC’s financial status and creates a budget projection and
expense report for review.
The BAO also presents the Financial Position of the College at every Advisory Council
meeting.
Response to Unexpected Budgetary Changes
Increased transparency in the budget has helped departments to understand not only their
own needs, but the needs of other departments. As a result, if one department is in need
of new equipment, but does not have any more financial resources, funds are reallocated
to enable the department in need to get the required equipment/materials. In the Spring
of 2017, the Science and the Medical Lab Technician program combined resources to
purchase $868.40 of microorganisms and chemicals for lab supplies. Because the MLT
budget was already allocated to other required programmatic expenses, the Science
department utilized excess monies they had and paid for a majority of the supplies. This
sharing of resources ensured that the MLT program would have the needed supplies for
the Pathogenic Microbiology course. In another example, in the summer of FY18, it was
discovered that the Medical Lab Technician program microscopes had not been serviced
and many were in a state of disrepair. This was an unplanned expense and there were not
enough funds in the program’s budget to address this need. Upon learning of the need,
the BAO, with permission of the President, reallocate Allied Health funds to accommodate
the needs of the program and ensure that the microscopes were ready for the beginning of
the fall semester.
Budgetary Oversight
The Board of Trustees, CCSNH, and RVCC administration all ensure oversight of the
financial resources and ethical practices of the College. There is an internal auditor at
CCSNH that oversees each college, and an external auditor examines CCSNH annually.
Additionally, CCSNH underwent a Legislative Bureau Audit. This Audit highlighted a
number of areas of concern which were addressed by the current administration and have
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