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2015 SESSION

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HB 1895 Higher educational institutions; additional financial and administrative authority.

Introduced by: M. Kirkland Cox | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Additional financial and administrative authority for certain public institutions of higher education. Permits the board of visitors or other governing body of any public institution of higher education that has entered into and successfully renewed a memorandum of understanding with the appropriate Cabinet Secretary or Secretaries to exercise, with some variation, (i) additional authority in the functional areas of information technology, procurement, and capital projects and (ii) the financial operational authority of covered institutions that have entered into management agreements. Under current law, such boards of visitors and governing bodies are limited to exercising authority in two of the three functional areas of information technology, procurement, and capital projects. The bill also describes the conditions for renewal and revocation of such authority and requires the accounts of each institution granted such authority to be audited by the Auditor of Public Accounts.


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