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SBHE Policies

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SUBJECT: 300s: Governance and Organization EFFECTIVE: May 23, 2018
Section: 302.3 Budget and Finance Committee

  1. The SBHE budget and finance committee is established to ensure the NDUS fiscal stability and long-term economic health.

  2. The budget and finance committee shall consist of three voting members of the SBHE and the Chancellor shall serve, ex officio, as a non-voting member of the committee. The SBHE president will appoint committee members as well as the committee chair by June 30th of each year to serve one-year terms starting July 1st. No voting member of the SBHE shall serve more than three consecutive terms and terms shall be staggered to ensure continuity of committee membership over the budget cycle. The SBHE president may also appoint additional members to serve, ex officio, as non-voting members of the committee. If a vacancy on the committee occurs before June 30th, the SBHE president shall appoint a voting member of the SBHE to fill the vacancy not later than the next regular meeting of the SBHE after the vacancy occurs.

  3. The budget and finance committee shall set a meeting schedule for the year at the committee's first meeting after July 1st. Meetings shall comply with all applicable laws, including the necessary posting of notice, the preparation of agendas in advance of meetings, and the recording of minutes for each meeting.

  4. The committee is responsible for reviewing and recommending the following to the SBHE for approval:
    1. Annual budget guidelines, including tuition and fees that promote SBHE goals;

    2. Annual operating budget for the NDUS office
    3. Biennial budget requests to the legislative and executive branches consistent with the SBHE's constitutional requirement to prepare "a single unified budget covering the needs of all institutions under its control";
    4. Priorities for institution capital requests and the system-wide capital master plan;
    5. Funding mechanisms and methodologies;
    6. Allocation of funds directly appropriated to the SBHE;
    7. Annual budget for SBHE functional spending;
    8. Policies regarding human resources, finance and budget;
    9. Changes to budget and financial related reporting provided to the committee or SBHE;
    10. Major financial studies;
    11. Retirement plan changes;
    12. Proposed bond issues;
    13. Proposed purchase, sale or exchange of real property;
    14. Proposed development of state land;
    15. Proposed significant change or expansion to capital projects; and
    16. Proposed campus assessments exceeding ten thousand dollars.

  5. The budget and finance committee shall be responsible for receiving annual budget and finance reports, including:
    1. Tuition waivers;
    2. Financial review report;
    3. Semi-annual budget report;
    4. Student affordability; and,
    5. Financial statements.

New policy, SBHE minutes, February 27, 2014; Amendment, SBHE minutes, October 27, 2016; Amendment, SBHE minutes, May 23, 2018.
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