A. Financial Planning

1.   State Delegation of Authority

1.1   State law (RSA 187-A:16) delegates to the Board of Trustees powers for ". . . the management and control of all property and affairs of the University System of New Hampshire, the university of New Hampshire (including the New Hampshire college of agriculture and the mechanical arts), and all its divisions and departments, the Keene state college, the Plymouth State University, and the Granite state college." Further, the law specifically authorizes the University System to accept and retain "all monies appropriated by or received from the government of the United States or the state of New Hampshire, all dividends and interest accruing to these institutions, all gifts of securities and property, real and otherwise, all grants and matching funds from any source, . . . income received and due from all sources, including bequests, trusts, student fees and tuition charges, rents, sales, and any other income from whatever source derived, and to authorize the use thereof in such manner as the trustees may determine or as may be provided by law or by the conditions incident to the trusts, gifts, and bequests involved."

2.   Trustee Delegation of Authority

2.1   The Board of Trustees delegates to its Executive Committee authority for development and coordination of all long-range planning.

2.2   The Board of Trustees delegates to its Financial Affairs Committee the responsibility for overseeing development of fiscal policies related to long-range planning and budgeting.

2.3   The Board of Trustees delegates to the Chancellor responsibility for administration of these financial policies and for preparation and presentation of such studies, reports, information and recommendations as are deemed necessary for the proper and effective exercise of the Board's fiduciary responsibilities.

3.   General Policy Concerning Financial Planning

3.1   The University System and its constituent institutions shall engage in long-range financial planning to continually assess whether projected revenues and expenses are in balance and sufficient to meet stated missions and goals. The Board of Trustees shall be periodically advised as to these estimates and make appropriate adjustments to policies, procedures, and/or practices in order to provide for fiscally responsible operations over the longer term. As a minimum, the University System will develop a tactical plan for each biennial period that coincides with the state funding request cycle. These plans will reflect priorities and positions articulated in systemwide and campus strategic planning documents.