The tables displayed below represent the entire set of measures that help determine financial stability and financial administration as established by the Board of Trustees Procedure 7.3.16, the time periods or monitoring timeline for each measurement, and a description of the exception that will trigger a variance to be reported.
Exception reports are generated to follow the monitoring timeline.
| Measurement | Timeline | Trigger |
| 1. Current year actual compared to current year budget by operating fund expenditures and revenues (general and revenue funds only). | 3rd Qtr. | < 90% of budgeted revenue receipted or >75% of budgeted expenditures expended |
| 2. Actual enrollment as compared to projections | March | ???3% from projections |
| 3. Current receivables compared to current year revenues. | 3rd & 4th Qtrs. | ??? 10% |
| Measurement | Timeline | Trigger |
| 4. Board required reserves - three-year consecutive history. | Close of fiscal year | Failure to adhere to approved plan |
| 5. Net budgetary operating revenue over a two-year period. | Close of fiscal year | Two consecutive years of negative net revenue for colleges and universities with a budgetary fund balance < 20% of revenues. |
| 6. Personnel costs as a percentage of total expenditures ?? compare to prior three??year average | Close of fiscal year | increase of 5% over three-year average |
| 7. Cash and investments compared to number of months of operating expenses. | 4th Quarter | Less than 2 months |
| Measurement | Timeline | Trigger |
| 8. Capital and Higher Education Asset Preservation and Replacement project execution rate compared to plan (issued by the Facilities Unit on a project-by-project basis) | Quarterly | Material variance from plan |
| 9. Repair and replacement expenditures (over a three??year period) compared to budget and plan (issued by the Facilities Unit) | Close of fiscal year | Material variance from plan |
| 10. MnSCU to MAPS reconciliation (including adjustments) | Monthly (general fund) and Quarterly (all other funds) | One period behind |
| 11. Timely and complete bank reconciliation (including adjustments) | Monthly | One month behind |
| 12. Timely and complete Financial Aid reconciliation | Quarterly | Not reconciled |
| 13. Interfund transfers and accruals in balance | Quarterly | Out of balance |
| 14. Proper use of chart of accounts (including program, subprogram, and other accounting codes) | Mid fiscal year | Material activity not in proper accounts or not following accounting principles |
| 15. Timely Interim Statements | Quarterly | One period behind |
If you have questions or comments please email us ( accounting@so.mnscu.edu) or refer to the staff directory link at the top of this page for additional contact information.
