Finance Committee

2012-2013 Academic Year

Finance Committees

BYLAWS [PDF]

Purpose

  1. The purpose of the committee shall be to review, monitor, evaluate, and recommend policy, procedures, and guidelines for budget development and decision-making. 

    The committee shall be accountable to the Faculty Senate as its representative from the faculty, which has consultative responsibility to make recommendations which affect the allocation of resources.

Responsibilities

  1. Proposing policies and changes in existing policies to the Senate as basis for developing the university budget. These proposals, if approved by the Faculty Senate, will be transmitted to the Chancellor.
  2. Providing recommendations to the Senate early in the budget cycle regarding tentative resource allocations to the divisions of the university from among alternative proposals.
  3. Reviewing and providing advice to the Faculty Senate on the budgets presented by the division administrators in terms of their proper implementation of budget policies in comparison with alternative budget proposals.
  4. Periodically reviewing expenditures against budget to judge implementation of budget and finance policies and advising the Senate as to changes that are needed.
  5. Providing overall advice to the Faculty Senate on the effectiveness of the budget as a means of implementing the university's long-range plans.
  6. Advising Senate members on STRAP and other faculty committees on budget and financial matters upon request, including the investigation of budget and finance issues and allocations as requested by the Senate.
  7. Providing for communication between faculty and those with direct responsibility for budget and financial matters.
  8. Serving as an information resource for faculty who have concerns about the allocation of university financial resources.
  9. Reporting budget information to the Faculty Senate in a format which is useful to faculty and provides a complete picture of the university's fiscal structure.
  10. Preparing fiscal notes to accompany Faculty Senate reports and resolutions when requested.