Regents' Policy Manual - Section 7.16: Financial Exigency

Adopted Date: 09-12-1996

Applicability

This policy applies to University-wide fiscal operations. It does not apply to decisions concerning individual programs.

Policy

In the event the University is threatened by a serious financial crisis which jeopardizes its mission and effective operation, the Board of Regents may declare a University-wide financial exigency to be followed by reductions in University expenditures, including reductions in force, if necessary. In making a determination of financial exigency and in approving reductions in expenditures, the Board will be guided by recommendations from the President, who shall convene a special committee to advise the President on the nature and extent of the exigency and recommended courses of action.

Implementation

The President may adopt administrative policies and procedures to implement this policy.

References

See, Policy on Academic Freedom and Tenure, Section 7, published in the Faculty Handbook, regarding the rights of tenured faculty members under financial exigency.