5.9 Biennial and Annual Operating Budget Planning and Approval

Board Policies
Chapter 5 - Administration

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Part 1. Policy Statement. The Board is committed to long term stewardship of state fiscal resources. It is the policy of the Board to approve system-wide biennial budget requests and system wide annual all funds operating budget plans for colleges and universities and the system office.

Part 2. Authority. (see related documents below) Minnesota Statute § 16A.10, Budget Preparation, states that in each even-numbered year, an agency must file its upcoming biennial budget request. Under Minnesota Statute § 136F.06, Powers and Duties, the Board has plenary authority to govern the colleges and universities and to adopt suitable policies for the institutions.

Part 3. Responsibilities.

Subpart A. Biennial Budget Request. The chancellor shall develop a system wide biennial operating budget appropriation request for submission to the governor and the legislature after consultation with constituency groups.

The biennial budget request is subject to approval by the Board.

Subpart B. All Funds Operating Budgets. The chancellor shall provide a financial outlook and issue guidelines for preparation of an operating budget to be developed by each college or university.

The colleges, universities, and the system office shall prepare balanced budgets consistent with Board policies and system procedures.

The Board shall approve the system wide annual all funds operating budget.

Part 4. Accountability/Reporting. The chancellor is responsible for monitoring the system, system office and college and university budgets. The chancellor shall provide system-wide budget updates for all funding sources on an exception reporting basis.

The president is responsible for monitoring the college or university budget to ensure accuracy and a balanced budget.

Part 5. Student Consultation. College and university budget development is subject to student consultation requirements as defined by Board Policy 2.3, Student Involvement in Decision Making.

Related Documents:

Policy History:

Date of Adoption: 06/21/00,
Date of Implementation: 06/21/00,

Date & Subject of Revisions:

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.

04/20/11 - Clarifies roles and responsibilities and adds student consultation language.

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 policy 5.9.