UWEC 910, Fiscal Administration
Last Updated
Practice Directive # | UWEC 910
Division | Finance and Administration
Department | Budget and Resource Planning
Contact | Director of Budget & Resource Planning | finadmin@uwec.edu
Effective Date | November 15, 2021
Revision Date | September 1, 2022
Division | Finance and Administration
Department | Budget and Resource Planning
Contact | Director of Budget & Resource Planning | finadmin@uwec.edu
Effective Date | November 15, 2021
Revision Date | September 1, 2022
Authority
State of Wisconsin | UWS 36.09(3)(a)
UW System | Regent Policy 21-1, Internal Management Flexibility of Auxiliary Funds; Regent Policy 21-6, Program Revenue Calculation Methodology and Fund Balances Policy; Regent Policy 21-7, Policy on the Expenditure of Tuition Revenue and State General Purpose Revenue; Regent Policy 21-8, Policy on the Annual Distribution of Tuition and Fee Revenue and State General Purpose Revenue
Objective
This practice directive details how UW-Eau Claire will fulfill UW System Policy aligned with State and/or Federal regulations and ensure the financial health and stability of our campus, as well as communicate an accurate fiscal condition. This practice directive intends to balance prudent fiscal management with adequate levels of resources to carry out the University’s missions, programs, strategic goals and objectives in an effective and efficient manner. Delegation resides with the Chancellor, which includes administration of all funds.
Statement
In accordance with UW System policies and Wisconsin State Statutes:
- UW-Eau Claire has the necessary flexibility to manage program revenue accounts to meet cash flow needs throughout the year, financial commitments, plans and goals.
- Reporting of program revenue cash balances is at a level that provides the Board of Regents, Legislature, and public with a complete, consistent, and transparent understanding of end-of-year balances.
- UW-Eau Claire has the flexibility to continue to invest in and cultivate creative academic programs to reach all students seeking higher education.
- UW-Eau Claire has the flexibility to invest in facilities that provide a world-class education.
- UW-Eau Claire is not incentivized to undertake unnecessary end-of-year spending to meet restrictive carry-forward caps.