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Chapter Nine: The Budget Planning Committee

§3-09.01 - The Responsibility of the Budget Planning Committee

  1. The Committee shall assist the President of the University in the formulation of the University’s annual budget. Preparatory to doing so, it shall review the budget of the previous and current fiscal years. It shall suggest expenditure objectives, revenue measures, fiscal parameters, and guidelines for the preparation of the annual budget. These suggestions will assist the Vice President for Finance in developing the planning budget for presentation to the President of the University prior to December 1.
  2. The President reviews the planning budget, makes whatever changes seem appropriate, and submits it to the Board of Trustees for its approval.
  3. Following the submission, review, and approval of all budget requests, the Budget Planning Committee shall meet periodically to review preparation of the final budget which the President will present to the Board of Trustees for approval. The Committee shall review the final University budget to insure that it is in general conformity with the planning budget submitted earlier by the President and approved by the Board of Trustees; it shall also be apprised of any significant changes in the current budget and fiscal outlook.

§3-09.02 - The Composition of the Budget Planning Committee

  1. The Budget Planning Committee shall consist of six members of the faculty selected by the Faculty Senate, and six administrators appointed by the President. The President of the University shall serve as an ex officio member of the Committee. The Chairperson of the Committee shall normally be the Vice President for Finance.
  2. Faculty members shall be appointed for three-year terms which may be renewed.
  3. The term of office of this Committee begins on July 1.