Finance & Operations

BUDGETS AND ALLOCATIONS  |  PUBLICATIONS  |  RESOURCES

The Finance and Operations division of the Illinois Community College Board (ICCB) plays a critical role in the financial management and accountability of state and federal funds distributed to community colleges, adult education providers, career and technical education providers, and community-based organizations. The key functions and responsibilities of the division include:

  1. Budget Development and Allocation:
    • Develops the System Operating, Capital, and Adult Education allocations budgets.
    • Ensures a fair and equitable distribution of state funds to 39 Illinois community college districts and non-college grant recipients.
  2. Financial Oversight and Reporting:
    • Provides guidance, leadership, and support related to finance, fiscal monitoring, financial reporting, funding, and grant program management.
    • Ensures accurate and timely publication of financial and facilities-related data.
  3. Accountability and Integrity:
    • Works to maintain high levels of accountability in administering ICCB processes.
    • Collects and analyzes data regarding the distribution of state funds.
  4. Fiscal Monitoring and Compliance:
    • Manages fiscal monitoring for community colleges, ensuring compliance with state and federal regulations.
    • Collects financial compliance items such as annual college audits, district-approved budgets, and financial information surveys.
  5. Capital Project Analysis and Facilities Data:
    • Reviews and analyzes new capital projects, providing recommendations.
    • Collects community college facilities data and serves as a liaison with the Capital Development Board on state-funded capital projects.
  6. Data Management and Reporting:
    • Oversees the data collection/analysis efforts needed for system-wide budget development.
    • Participates in the System Recognition Process, ensuring all financial compliance requirements are met.
  7. Procurement and Accounting:
    • Manages procurement for the agency’s operating needs and processes payments for agency obligations.

 

By carrying out these duties, the Finance and Operations division ensures that financial resources are properly managed, allocated, and monitored, helping the ICCB meet its goals and maintain transparency in the distribution of public funds.

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