Board of Trustees
Section 1. Purpose
Under Tennessee law and the Bylaws of the Board of Trustees, the Board is responsible for approving the annual operating budget for the University of Tennessee, including tuition and fees for each campus. Tennessee law requires the campus Advisory Board to submit a recommendation to the President on the proposed annual operating budget, including tuition and fees, as it relates to the campus prior to adoption of the annual operating budget for the University by the Board of Trustees. Tennessee law also requires that the Advisory Board submit the recommendation to the President in accordance with the process established by the Board of Trustees.
Section 2. Definitions
“Advisory Board” means the separate advisory board established under Tennessee Code Annotated § 49-9-501 for each of the following: University of Tennessee, Knoxville, University of Tennessee at Martin, University of Tennessee at Chattanooga, and University of Tennessee Health Science Center.
“Board” means the Board of Trustees of the University of Tennessee.
Section 3. Process
- The Chief Financial Officer shall distribute instructions to Chancellors during the annual budget development process regarding the format and timing of Advisory Board budget recommendations to ensure consistency with the date and agenda of the annual meeting of the Board of Trustees and format of the University’s proposed budget document.
- In accordance with University fiscal policy and instructions distributed by the system budget office, the Chancellor and campus budget personnel shall develop the campus proposal for revenues, expenditures and transfers, and tuition and mandatory fees (hereinafter “campus proposal”) for inclusion in the proposed annual operating budget for the University.
- The Chancellor shall present the campus proposal to the Advisory Board in the format and in accordance with the instructions issued by the Chief Financial Officer (see item 1 above). The Advisory Board shall make a recommendation on the campus proposal at a regular or special meeting of the Advisory Board.
- The Chancellor shall submit the Advisory Board recommendation on the campus proposal to the President for review, along with the original campus proposal.
- The President and Chief Financial Officer shall consider the Advisory Board recommendations on the campus proposals while finalizing the annual operating budget proposal for the University. The President has sole authority over the annual operating budget proposal presented by the Chief Financial Officer to the Board of Trustees.
- The Board shall consider the annual operating budget proposal for the University and act on it in accordance with its Bylaws, applicable policies, and applicable committee charters.