The accounting department is responsible in conjunction with the instructional programs and support departments for the development of the annual operating budget. This annual cycle includes the Adopted Budget, First and Second Interim reports and the Annual Financial Statement. Within the overall budget are Federal, State and Local Grants that require separate budget and expenditure submissions to various agencies. As part of the budget monitoring process, the department reviews for compliance and state cost accounting purposes, all expenditure documents including purchase orders, contracts and employee reimbursements. Other responsibilities include the development of expenditure data necessary for the compilation of the annual audit report and management of the fixed asset and inventory data.