Chapter 7 - General Finance Provisions
Part 1. Authority
Pursuant to Minnesota Statutes 136F.06 (see related documents below) the Board of Trustees has authority to govern state colleges and universities and all related property and to develop policies to implement the Board's authority. The referenced statute further states that to the extent practicable in protecting statewide interests, the Board of Trustees is charged with providing autonomy to the colleges and universities and holding the colleges and universities accountable for the decisions made.
Minnesota Statutes 136F.05 charges the board with efficient use of facilities and staff so that students benefit through improved and broader course offerings, ease of transfer among colleges and universities and programs, integrated course credit, coordinated degree programs and coordinated financial aid. Effective implementation of these objectives requires a high degree of coordination and integration of administrative and student support systems at all colleges and universities.
All financial and administrative policies are in support of the Minnesota State Colleges and Universities' educational mission. Policy 1A.3, Part 4 delegates authority to the chancellor to develop procedures and guidelines which implement the Board's policies for the administrative and financial management of the system, including all colleges and universities. There shall be a high degree of coordination and integration of administrative and student support information systems, procedures and processes across all colleges and universities for purposes of achieving uniform and efficient student services and in demonstrating serious commitment to sound stewardship over state resources. Procedures and guidelines shall support these objectives through consistent business and administrative practices that assure the highest possible quality of administrative student services, data integrity and the efficient use of the system’s information technology resources.
Subject to the above stated objectives covering administrative and student support systems and processes, the board's policies and the system procedures shall allow the colleges and universities sufficient autonomy to administer the resources under their control to achieve their mission and to have accountability for their decisions.
Part 2. Responsibilities
The chancellor shall periodically advise the board of the administrative and financial management performance of the system, system office, colleges and universities. The chancellor is responsible for periodic communications, reporting, and oversight of the presidents.
Presidents shall have the authority, responsibility and accountability to administer their colleges and universities in accordance with board policies, delegation from the chancellor, system procedures, and federal, state and local laws and regulations. The president of each college and university is responsible for developing and maintaining conforming and compliant college/university-wide administrative, financial, and facilities management procedures in consultation with students, faculty, staff and recognized organizations for faculty, students, and staff.
Part 3. Public Information
All data will be handled in accordance with Minnesota Statutes Chapter 13, the Minnesota Government Data Practices Act, (see related documents), or other applicable law.
Part 4. Accountability/Reporting
The chancellor is accountable for administrative and financial management of the colleges, universities, and system office as delegated by the board and for oversight of the activities of all colleges and universities. The presidents are accountable for administrative and financial management of the colleges and universities as delegated by the chancellor. Internal and external audits will be conducted in accordance with the audit committee’s direction. The Board will be advised of the financial status of the system through reports to the Board and as the results of audits.
To view any of the following related statutes, go to the Revisor's Web site (http://www.revisor.leg.state.mn.us/). You can conduct a search from this site by typing in the statute number.
Date of Implementation: 9/20/95
Date of Adoption: 9/20/95
Date & Subject of Revisions:
03/18/15 - Periodic review complete. Technical changes throughout. Part 2 was amended to include delegation from the chancellor. Part 4 was amended to clarify that audits will be conducted in accordance with the audit committee’s direction.
11/16/11 - Effective 1/1/12, the Board of Trustees amends all board policies to change the term "Office of the Chancellor" to "system office," and to make necessary related grammatical changes.
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