California SB308 mandates annual audits and reports on community college fiscal conditions and exceptions.

California SB308 requires the Chancellor of the California Community Colleges to report annually on audit exceptions and fiscal conditions of community college districts. The report includes the number and nature of audit exceptions, the estimated amount of funds involved, and corrective actions taken. The bill also mandates the development of standards for fiscal management and procedures for districts experiencing fiscal difficulties, including potential appointment of a special trustee.

California SB308 mandates annual audits and reports on community college fiscal conditions and exceptions.

California SB308 requires the Chancellor of the California Community Colleges to report annually on audit exceptions and fiscal conditions of community college districts. The report includes the number and nature of audit exceptions, the estimated amount of funds involved, and corrective actions taken. The bill also mandates the development of standards for fiscal management and procedures for districts experiencing fiscal difficulties, including potential appointment of a special trustee.