Board
Policies
Chapter 5 - Administration
Click here for a PDF copy of this policy.
5.9 Biennial and Operating Budget Planning
and Administration Including Revenue Fund
Part 1. Authority (see
related documents below) Minnesota Statute
§ 16A.10, Budget Preparation, states that by October
15 of each even-numbered year, an agency must file its upcoming
biennial budget request. Minnesota Statute
§ 136F.06, Powers and Duties, state that the Board
shall set tuition and fees and adopt suitable policies for the
institutions it governs. Minnesota Statute
§ 136F.70, Tuition; Fees; Activities Funds, state
that the Board shall set rates of tuition and fees.
Part 2. Policy Statement.
It is the policy of the Board of Trustees to periodically approve
revenue and expenditure operating budget plans for all colleges
and universities and the office of the chancellor. Operating budget
planning includes all revenue sources.
Part 3. Responsibilities
The chancellor shall provide guidelines for preparation
of an operating budget financial outlook by each college or university.
The colleges, universities, and the office of the chancellor will
prepare budgets consistent with Board policies and system procedures.
The Board of Trustees shall approve the biennial budget requests
and system-wide allocations. The Board shall annually approve
tuition and fees, room and board rates, and student union facility
fees.
Part 4. Accountability/Reporting
The chancellor is responsible for monitoring the system, office
of the chancellor and college and university budgets. The president
is responsible for monitoring the college/university budget to
ensure accuracy and a balanced budget. The Board of Trustees will
be periodically provided system-wide budget updates for all funding
sources on an exception reporting basis. These will include a
breakout at the college, university and office of the chancellor
level.
| Related
Documents: |
Current
Year Budget Plan
Future System Procedure 5.9.1
Management of Revenue Fund
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.
- Minnesota Statute 16A.10
- Minnesota Statute 136F.06
- Minnesota Statute 136F.70
|
| Date
of Implementation: |
06/21/00 |
| Date
of Adoption: |
06/21/00 |
| Date
& Subject of Revisions:
6/21/06 - Technical and syntax amendments made to policy.
06/18/03 - adds a new Part
1, authority, changes "system office" to "office of the
chancellor", and provides for reporting on an exception
basis in renumbered Part 4
There is no additional HISTORY
for 5.9 at this time. |
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