The Office of the Vice President, Chief Financial Officer & Comptroller announces the publication of the rewritten 1 Fiscal Environment, previously titled 1 Introduction to Business and Financial Functions at the University of Illinois.
These changes were made as part of an initiative to revise and simplify University of Illinois System-wide fiscal policies and procedures. This content is now found at 1 Fiscal Environment. This section has been reorganized to focus on topics relating to the system’s fiscal environment and rewritten to improve comprehension and consistency with policy design standards.
As part of this reorganization, policies and procedures that address topics relating to contracts have been removed and will be displayed in a new section, “19 Contracts”.
Highlights of the policy and procedural updates include:
- Combined related topics addressing the unique business environment at the system;
- Clarified standards for assessing unit fiscal health;
- Amended university and System Offices deficit reporting expectations to state that university budget offices and/or the Comptroller may periodically request units to prepare deficit remedial business plans; and
- Simplified the procedure for units seeking to conduct business outside the state of Illinois.
Contact
For questions contact CFO Business and Finance Policy Office at (312) 585-9071 or obfspolicies@uillinois.edu.
