(Last Modified on October 18, 2012)
Overall responsibility for monitoring of institutional expenditures is assigned to the institution’s chief business officer. Appropriate monitoring of student fee usage is the responsibility of the business office authorizing payments, the program personnel (student life professionals, athletic personnel, etc.), and the student organizations requesting expenditures of funds. At a minimum, institutions should:
- Provide reports (preferably quarterly) detailing student fee expenditures to the student fee committee(s) charged with providing budget recommendations on that respective student fee;
- Periodically conduct independent reviews of or request an internal audit of selected student fee expenditures; and,
- Maintain sufficient records of student fee committee(s) meetings to adequately document the intended use and scope of new student fees and to document the student fee budget(s) presented to the committee.