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2.1.3 Vice President for Financial Administration

(Charter)

Chief Financial Officer

The Chief Financial Officer is the treasurer of the corporation and chief business officer of the University and is responsible to the President for carrying out the financial and business policies of the University, administering the physical assets and all revenues and expenditures, and controlling all business activities.

(Bylaws)

Chief Financial Officer: Vice President for Financial Administration and Associate

  1. In carrying out his or her responsibility to the President, the Vice President is expected to

    1. Act as the officer in charge of the University in the absence of the President and the Vice President for Academic Administration

    2. Recommend to the President persons to serve as directors of the financial and service departments

    3. Prepare or direct the preparation of such financial reports as may be required by the President and the Board of Trustees

    4. Advise the President on the financial operations of the University

    5. Recommend to the President plans for major building infrastructure changes and major repairs to the physical plant

    6. Perform such other duties and functions as the President may assign

  2. In carrying out his or her responsibility to the faculty and other staff members, the vice president is expected within budget limitations to

    1. Provide suitable personnel, either student or non-student, for the maintenance and operation of all departments

    2. Assist university personnel in locating suitable housing

    3. Provide suitable supplies and equipment for the operation of teaching, industrial, and service departments

    4. Communicate to university personnel current employment benefits and financial policies of the University (Appendix C: University Financial Policies for Faculty, Appendix D: Faculty Salary and Allowance Schedule, and Appendix F: Travel Policy Guidelines and Procedures). The Vice President for Financial Administration, in consultation with the Director of Human Resources, is responsible for revisions to Appendices C, D, and F.

  3. In carrying out his or her responsibility to students and their organizations, the vice president is expected to

    1. Provide financial counsel through the Student Financial Aid Office to students and their parents or guardians

  4. As custodian of all university property, the vice president is expected to

    1. Be responsible for all physical property belonging to the University and keep an accurate inventory thereof

    2. Provide for prompt and adequate repairs and maintenance for all university equipment and buildings used by university personnel or others

    3. Make certain that all property of the University subject to damage, or potentially hazardous to life or property, is and continues to be insured against loss to the University in amounts deemed reasonable by proper insurance counsel

  5. In carrying out his or her responsibility to the constituency and community, the vice president is expected to

    1. Promote harmonious relations with all university suppliers and customers of university enterprises, so that the University as an institution may make effective Christian witness

    2. Sign checks and official documents in the name of the University, when authorized by the charter, bylaws, or the Board of Trustees

    3. Control expenditures in harmony with the budget approved by the Board of Trustees or for which the Board has made specific appropriation

  6. In carrying out the responsibilities of the office of the Vice President for Financial Administration, the associate vice president is expected to

    1. Act on behalf of the Vice President for Financial Administration in his absence

    2. Serve on the following committees: Board Facilities, Board Finance, Board Investment, Cabinet, and Personnel

    3. Supervise the management of non-dormitory student housing

    4. Act as Controller of the University

      i. Supervise the preparation of managerial and audited financial reports

      ii. Manage the investment of funds of the University in accordance with the President’s directives as set forth in policies and regulations of the Board of Trustees and account for all such investments

      iii. Provide for all payroll and other disbursements and transactions with university employees and properly account for these

      iv. Provide accounting and banking services for student organizations

      v. Provide to students and their parents prompt and accurate statements of their accounts with the University

      vi. Maintain in a safe place, all funds, securities, deeds, and other instruments of the University

      vii. Supervise all university accounting and provide adequate records of transactions with all persons and firms doing business with the University

      viii. Supervise the receipt of all revenues to the University from all sources and properly account for and safeguard them until disbursed according to budget plans or donor restrictions