5.9 State Budget Requests and Annual Operating Budget Planning and Approval

Board Policies
Chapter 5 - Administration

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Part 1. Purpose
 The Board of Trustees is committed to long-term stewardship of state fiscal resources.

Part 2. Authority
Minn. Stat. § 16A.10 states that in each even-numbered year, an agency must file its upcoming biennial budget request. Under Minn. Stat. § 136F.06, the board has plenary authority to govern the colleges and universities and to adopt suitable policies for the institutions.

Part 3. Policy

Subpart A. Development of state budget requests
The chancellor shall develop state budget requests for the system after consultation with constituency groups.

Subpart B. Development of 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.

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

The Presidents are responsible for monitoring their college or university budgets to ensure accuracy and a balanced budget.

Part 5. Student Consultation
College and university budget development is subject to student consultation as defined by board policy. Consultation requires the administration to actively engage with the campus student association in frank and meaningful conversations about issues before final decisions have been made. Student opinions, ideas, and any formal positions of a campus student association must be taken into account when decisions are made.

Requirements include, but are not limited to, multiple meetings with the recognized campus student association to discuss budget options including changes to tuition and fee rates. Notice of agenda items and any necessary background materials must be provided in advance of meetings except under very unusual circumstances. If the campus student association requests further information, a response must be provided within a reasonable amount of time, allowing the campus student association to discuss and take any action desired.

Letters written to the board by the recognized representative of the campus student association and describing the annual budget consultation process will be included as part of the annual all funds budget proposal reviewed and approved by the board.

Related Documents:

To view any of the following related statutes, go to the . You can conduct a search from this site by typing in the statute number.
  • Minnesota Statute 16A.10 Budget Preparation
  • Minnesota Statute 136F.06 Powers and Duties

Policy History:

Date of Adoption: 06/21/00
Date of Implementation: 06/21/00
Date of Last Review: 04/17/24

Date & Subject of Amendments:

04/17/24 – Full review. Amended to improve standardization across policies. Part 5 Student Consultation was amended to include language about the student consultation process.

03/16/16 - Periodic review resulting in technical changes only.

 

Additional HISTORY

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