Faculty Council Budget & Finance Committee

Adopted May 2021

The Faculty Council Budget and Finance Committee (FCBFC) is charged by the Faculty Council to represent the interests of the faculty to the CU System administration in matters of budget and finance. Given that a budget is a plan that provides a formal and quantitative expression of policy and management priorities; as such it is a moral statement of values and priorities. The committee considers policies and matters concerning the allocation and distribution of university resources and accounting and management therefore, the FCBFC will:

1. Advise Faculty Council on matters of budget, accounting, and finance.  

a. Consider policies and practices relevant to university budget, accounting, and finance.

b. Consider budget decisions, or other decisions, that affect the generation of revenues or distribution of resources across campuses.

c. Provide recommendations to the Faculty Council about issues that have budgetary or financial implications when requested by the Faculty Council Chair. 

d. Provide faculty representation (either from the committee or recommended by the committee) for CU System-level searches, working groups, and committees that significantly overlap budget, accounting, and finance. 

2. Consult with representatives of the CU System Administration on matters of budget, accounting, and finance. On urgent or short notice matters, the chair and/or executive committee can be consulted on behalf of the committee. 

a. Review any budget recommendations and presentations with CU System administration prior to their submission to the Board of Regents’ meetings.

b. Annually discuss university priorities with respect to budget allocation.

c. Remain informed of financial planning, accounting, administrative, and management activities through reports from and discussions with the Offices of the Treasurer, Controller, and other CU System offices.

3. Serve as a liaison between the CU System administration and the campus budget committees.

a. Be aware of ongoing activities and current developments at both system and campus levels.

b. Communicate activities and developments to campus faculty budget committees.

c. Bring feedback and inputs to the administration on budget, accounting, finance, and policy decisions.

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