Finance and administration committee action shall be required for:
- Appointment of the president and officers excepting academic appointments;
- Human resources and matters involving negotiations of collective bargaining agreements;
- General university policies and business not specifically assigned to another committee;
- Questions of law affecting the university, which questions may be referred to the attorney general for an opinion;
- Public affairs;
- Salary, wage and benefits policies;
- Interpretation of the bylaws and rules of the board
- Proposed amendments of the bylaws and rules of the university;
- The university’s annual operating budget;
- Budget transfers in undesignated general or auxiliary funds above the amount of five million dollars and additional appropriations of undesignated general, auxiliary or plant funds, above the amount of five million dollars which are not provided for in the annual budget;
- Contracts and modifications thereof in amounts of and greater than five million dollars, and all land purchase or sale contracts for operating real estate shall require finance committee action, regardless of amount;
- Changes in the general fee, instructional fees, residence hall room and board rates, apartment rates, and nonresident surcharge;
- Establishment of debt instruments issued by the university;
- Changes in overall investment policies relating to the receipt, purchase, sale, lease, and exchange of securities, real estate and other tangible property which may be a part of the university’s assets held for investment;
- University building program and naming of buildings;
- General policies respecting equipment, maintenance, operation, and use of the university’s physical plant;
- Concept approval for all building projects and rehabilitations with an estimated cost over six hundred and five thousand dollars; and
- Concept approval for any proposed purchase or sale of land which is or is to be operating real estate.
- Receiving information on the following:
- All budget transfers of undesignated general or auxiliary funds, and all additional appropriations of undesignated general, auxiliary or plant funds in amounts between one million dollars and five million dollars;
- All contracts, purchase orders, sponsored contracts, sponsored grants and modifications thereof approved by the president in amounts between one million dollars and five million dollars.
- The financial limitations of this section shall be automatically increased by ten per cent every three years.