Procedure 7.3.16 Financial Health Indicators - History

System Procedures
for Chapter 7 - General Finance Provisions

for Board Policy 7.3

Procedure History:

Date of Adoption: 12/09/03
Date of Implementation: 12/09/03
Date of Last Review: 08/28/23

Date and Subject of Amendments:

08/28/23 – Reviewed as part of the five-year review cycle. Amended Part 3 to remove duplication, increase oversight of all funds by adding Revenue Fund specific measures, modify use of fund balance measures, and align measures with rating agency requirements.

8/08/16 - Amended Part 1 and Part 2. New Part 3 Financial Health and Stability Measures.

1/25/12 - The Chancellor amends all current system procedures effective February 15, 2012, to change the term "Office of the Chancellor" to "system office" or similar term reflecting the grammatical context of the sentence.

2/14/11 - In Part 3, Subpart B, references to general fund were removed.

2/2/11 - The revision to the financial exception reporting process reduces the number of risk factors and adds a consequence for each risk factor. In addition, Guideline 7.3.16.1 has been incorporated into the procedure.

1/7/08 - Amended Part 3 to update the financial exception reporting measures to assure the short- and long-term stability indicators properly reflect effective financial administration throughout the system.