At the request of the District, the Fiscal Crisis Management Assessment Team (FCMAT) conducted a Fiscal Health Risk Analysis (FHRA) in November 2019. Eight recommendations designed to improve the fiscal health of the District were provided in the FHRA. In response, the District initiated a fiscal stewardship plan that addresses all eight recommendations. The results of the fiscal stewardship plan are continually measured and monitored.
In late Fall 2020, the District met with FCMAT to review the milestones achieved, inclusive of new fiscal operating procedures, cost saving initiatives, and current and future budget projections. In result, FCMAT issued a summary evaluation in January 2021. In response, the Palomar College Governing Board accepted the Recommendations from the Office of the President in April 2021. These recommendations are responsive to both the Fall 2020 FCMAT report and the January 2021 follow up report from FCMAT.