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Policy Manual – Distribution of Financial Resources

FINANCIAL AFFAIRS
Section 708 Distribution of Financial Resources

Effective: 3/23/98
Last Revised: 1/25/99
Responsible Office:  Finance

Policy Statement:

The University of Maine System Board of Trustees has a fiduciary responsibility to ensure that the System uses its resources in a responsible way and to maintain its financial well being. The way in which resources are distributed is critical to the fulfillment of mission and achievement of goals. In March 1998, the Board adopted an approach to distributing resources which (1) recognizes that differing missions entail different funding levels, (2) that Systemwide priorities need to be supported as a first step in the distribution process, (3) that there needs to be a periodic review of the funding process and its results, and (4) that an incentive for enrollment growth should be incorporated in the distribution approach effective fiscal year 2000.