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SUBJECT: 300s: Governance and Organization EFFECTIVE: October 27, 2016
Section: 302.3 Budget and Finance Committee

The State Board of Higher Education Budget and Finance Committee is established to ensure the North Dakota University System's fiscal stability and long-term economic health.

The Budget and Finance Committee shall consist of three voting members of the Board, and may also include additional SBHE faculty and staff advisors as ex-officio non-voting members, as appointed by the Board President. The President shall appoint the members at the same time the Board elects its officers. The committee members shall serve terms beginning July 1. The terms may not exceed three years and shall be staggered to ensure continuity of membership over the budget cycle. In the event a vacancy on the committee occurs before the next scheduled election, the President shall appoint a committee member to fill the vacancy no later than the next regular meeting of the Board. The Chancellor shall serve as an ex-officio member of the Committee.

The Committee shall meet at the call of the Chair as necessary to fulfill its duties and responsibilities. The Committee is responsible for reviewing and recommending the following to the full Board for approval:
  1. Annual budget guidelines, including tuition and fees that promote SBHE goals;
  2. Annual operating budget for the system 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 institutions' capital requests and the system-wide capital master plan;
  5. Funding mechanisms and methodologies;
  6. Allocation of funds directly appropriated to the Board;
  7. Annual budget for the functioning of the SBHE;
  8. Major policies regarding finance and budget to ensure sound fiscal practices;
  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 purchases, sales or exchanges of real property;
  14. Proposed development of state land;
  15. Proposed significant changes or expansions to capital projects; and
  16. Proposed campus assessments exceeding $10,000.

The 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.
SBHE Amendment, October 27, 2016.
Bismarck State CollegeDakota College at BottineauDickinson State UniversityLake Region State CollegeMayville State UniversityMinot State UniversityNorth Dakota State College of ScienceNorth Dakota State UniversityUniversity of North DakotaValley City State UniversityWilliston State College
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