Narrative:  

The University is in compliance with this Comprehensive Standard.

Troy University’s Board of Trustees has the legal authority and operating control over all fiscal activities for the institution, as authorized in the Code of Alabama Section 16-56-6.

The Board of Trustees is an active, policy-making body that holds a regular annual meeting each year in Troy, Ala. on or about the date for spring semester graduation and holds regular or special meetings called by the Governor or the president pro tempore at other times during the year.

The Board meets at least three times during the year. The Board of Trustees approves the amount of all tuition and fees, all bond activities, financial commitments for buildings, and all major expenditures. The Board reviews and approves an annual budget for the institution.

The Senior Vice Chancellor for Finance and Business Affairs makes a report on the financial status of the University at each Board meeting, and each year, the Examiners of Public Accounts, an arm of the Alabama State Legislature, conducts an audit of the University’s finances. (Audit information for previous years as well as other budget information may be accessed in the online Reference Room.) The Board of Trustees receives a copy of the audit report for review.

The following table provides the dates of Board of Trustee meetings since Sept. 2004. Budget approvals were made during the meetings noted with an asterisk, and links are provided to the minutes of these meetings. These minutes confirm that the Board actively exercises control over the fiscal stability of the institution.

Additional information regarding the fiscal stability of the University may be found in Core Requirement 2.11.1 and Comprehensive Standards 3.10.1, 3.10.2, 3.10.4, and 3.10.5.

Troy University is in compliance with this Comprehensive Standard.