Fiscal Policy Development Processes

The Fiscal Policy Development Processes guide the initiation, leadership review, stakeholder analysis, approval, and publication of new and updated business and financial policies and procedures. The Office of the Chief Financial Officer is responsible for coordinating the activities involved in these processes.

Academic Affairs Planning Committee (AAPC) Policy Process

The Academic Affairs Planning Committee (AAPC) Policy Process is the most inclusive development process. Policies that are developed using this process are selected by CFO Leadership, developed by the Office of the Chief Financial Officer, and are reviewed and approved by the Academic Affairs Planning Committee. This process is reserved for those policies which are significant enough to impact the business environment, reputation, and perception of the system. They need to be reviewed for tolerances of, administrative burden, institutional risk, and number of individuals impacted. It is for these reasons that these three groups are all involved in the creation, review, and approval of policies created under this process.

Standard Policy Process

The Standard Policy Process is used to create new policies or change existing policies that do not substantively impact the business environment of the system. The Office of the Chief Financial Officer and identified stakeholders will develop a policy draft and review and approve the more substantial changes proposed under this process. Policies developed using this process may follow a complete external stakeholder review and refinement process, including an open comment period.

Fast Track or Emergency Policy Process

The Fast Track Policy Process is used when urgent policy changes are needed. These changes may be necessitated by explicit request from the President or Board of Trustees or may be the result of legal or other regulatory events that require immediate action be taken. Requests for policies to be developed and published using this process are reviewed and approved by the Assistant Vice President for Business and Finance (AVP).