760 KAR 1:040. Delegation of financial management responsibility

      Section 1. (1) The president of the university shall be authorized by the Board of Regents of Northern Kentucky University to perform the financial management functions specified in KRS 164A.565, 164A.575, and 164A.620.

      (2) The president shall be responsible for submitting to the State Property and Buildings Commission information and requests for approval of any bond project approved by the Board of Regents. (19 Ky.R. 1269; Am. 1542; eff. 1-4-93.)

Notation

      RELATES TO: KRS 164A.560

      STATUTORY AUTHORITY: KRS 164A.555-164A.630

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 vests the responsibility with the governing board of a public institution of higher education to elect to perform financial management functions in accordance with KRS 164A.555 to 164A.630 by issuing administrative regulations. It also permits the board to delegate these responsibilities to an institution official. The function of this administrative regulation is to delegate responsibilities to the president of the university.