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Business and Financial Policies and Procedures

1.2.1 Business and Financial Responsibilities

The Senior Associate Vice President for Business and Finance (SAVP) has been delegated the responsibility for business and financial functions and services by the Vice President/Chief Financial Officer and Comptroller. The SAVP delegates authority to direct and/or facilitate the procedures used in all campus business and financial matters to members of the Senior Associate Vice President for Business and Finance Advisory Council (SAVPAC).

Some members of SAVPAC have the additional responsibility to act as chief business officer for the campuses:

  • Chicago – Assistant Vice President for Business and Finance
  • Springfield – Director of Business Services
  • Urbana – Assistant Vice President for Business and Finance

The chief business officers:

  • Provide assistance, consultation, and decision support regarding business and financial issues to campus administration officers, campus business managers and campus fiscal officers.
  • Help ensure compliance with University policies and other regulatory requirements.
  • Partner with campus leadership in meeting strategic objectives in cost effective, compliant manner.

University units have been delegated the responsibility for their financial information which is critical to the integrity of the University's financial statements. Therefore, personnel responsible for the business and financial activity of their unit must carefully review all policies and procedures to ensure that their financial information is properly recorded in the University's financial system.

Units are responsible for ensuring the most effective use of University resources through such measures as:

  • Maintaining accounts and preparing reports which show the financial impact of University activities and programs
  • Supporting the mission of the University through the best use of financial resources
  • Establishing internal controls to ensure stewardship of public funds

All employees are responsible for exercising reasonable care of University and State resources.

Last Updated: July 5, 2016 | Approved: Senior Associate Vice President for Business and Finance | Effective: July 5, 2016

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