Business Affairs Council (BAC)
The Business Affairs Council shall consist of the chief financial officer or vice president of finance at each of the institutions under the Board's control. The Council shall be chaired by the System Vice President of Finance and Administration as a non-voting member.
The Business Affairs Council shall, at the request of the Board, the Executive Director, or the Council of Presidents and Superintendents, perform duties, conduct studies, and make recommmendations to the Board through the Council of Presidents and Superintendents. The Council shall also conduct studies and analyses to support the work of the other councils. The Council shall develop and oversee policies that impact fiscal affairs of the universities and the Regental system. (BOR Policy 1:7:3)
The Council typically meets two weeks prior to each Council of Presidents and Superintendents (COPS) meeting in order to present recommendations on pending issues to the COPS which are often forwarded to the Board of Regents. The following list of BAC responsibilities is not exhaustive, but ties to the jurisdiction of the Board of Regents Committee on Budget and Finance:
- Accounting
- Audit
- Bonding
- Budget (including operating budgets and budget request)
- Capital Improvements (including Building Committees)
- Facilities and Physical Plant (including facilities utilization and inventory)
- Financial Reporting Foundations
- HEFF and School & Public Lands Funds
- Instructional Formula Funding
- Inventory
- Maintenance & Repair (HEFF, M&R Fee, Institutional, and Revenue Facilities)
- Payables/Receivables
- Personnel Services
- Purchasing and Printing
- Revenues
- Travel and Contractual Review
- Tuition & Fees (including Reciprocity Agreements)
