Financial Exigency Statements
Each President is hereby directed to reevaluate policies for meeting any possible
conditions of financial exigency. Included in this policy shall be provisions for
securing appropriate input from representatives of academic and non-academic personnel.
Representatives of these personnel shall serve only in an advisory capacity to the
President. Such policy statements, after being approved by the Board, may be included
in the respective institutional faculty and/or staff handbooks. Regardless of the
input or counsel received by the President from institutional personnel, it shall
be the sole responsibility of the President of each institution under the governance
of the Board to make the final decision regarding recommendations to the Board concerning
any financial exigency. The Board shall finally decide the specific actions required
concerning any existing or anticipated financial exigency.
May 18, 1979
June 20, 1997
March 1, 2013
June 22, 2018