Chapter 7 - General Finance Provisions
Part 1. Authority
In accordance with Minnesota Statutes (see related documents below), colleges and universities may offer products and/or services designed for student recreational, social, welfare and educational pursuits supplemental or incidental to the regular curricular offerings or utilize college or university excess capacity.
Colleges and universities may also offer products and/or services resulting from part of an educational program. These products and/or services must be made available to the general public and must be in a self-financing manner to the extent practicable in accordance with Minnesota Statutes, Board policies and system procedures. All accounting activities for products and/or services provided above must be properly recorded in the Minnesota State Colleges and Universities financial management systems.
Part 2. Responsibilities
Subpart A. Delegation
The Board of Trustees delegates to the chancellor the authority to manage all enterprise or auxiliary activities, including but not limited to, the Revenue Fund, food service, bookstores, child care centers, printing shops, health clinics, and rental housing, in a self-financing manner to the extent practicable in accordance with Minnesota Statutes, Board policy and system procedures (see related documents below). Where delegated by the chancellor, the president is responsible for managing the enterprise or auxiliary activities for a college or university in conformance with Minnesota statutes, Board policies and system procedures. System procedures shall include, but not be limited to:
- administration of enterprise and auxiliary activities,
- provision for meaningful student participation in the decision making process.
Subpart B. Competition with the Private Sector
Each college and university has a responsibility to consider very carefully any decision to provide supplemental or incidental products and/or services to students, faculty, staff, or the public at large, particularly where the products and services to be provided might compete with similar products or services offered by the private sector. However, some degree of competition between the college or university and the private sector may be unavoidable, even when the college or university is engaged in the narrowest pursuit of its instructional, research, and public service missions.
Part 3. Accountability/Reporting
The Board of Trustees will be periodically updated on college and university business activities on an exception reporting basis.
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: 06/21/00
Date of Adoption: 06/21/00
Date & Subject of Revisions:
06/21/06 - Amended Part 2, Subpart A delegating authority to the chancellor to manage the Revenue Fund, and requires compliance with Minnesota statutes.
Click here for additional 7.6 HISTORY