§ 359. Reports of the state university trustees.
1.The trustees of\nthe state university shall make, on or before January first of each\nyear, an annual report of its activities and such recommendations as it\nmay deem appropriate to the board of regents, the governor, the state\ncomptroller and the legislature. This annual report shall include a\nsummary of state university's (1) operations and accomplishments; and\n(2) revenues and expenditures, in accordance with the categories or\nclassifications established by the trustees of the state university for\noperating and capital outlay purposes. A copy of such report shall also\nbe transmitted to the council of each state-operated institution.\n 2. On the fifteenth day of September, November, January, March, May\nand July of each year,
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§ 359. Reports of the state university trustees. 1. The trustees of\nthe state university shall make, on or before January first of each\nyear, an annual report of its activities and such recommendations as it\nmay deem appropriate to the board of regents, the governor, the state\ncomptroller and the legislature. This annual report shall include a\nsummary of state university's (1) operations and accomplishments; and\n(2) revenues and expenditures, in accordance with the categories or\nclassifications established by the trustees of the state university for\noperating and capital outlay purposes. A copy of such report shall also\nbe transmitted to the council of each state-operated institution.\n 2. On the fifteenth day of September, November, January, March, May\nand July of each year, the trustees of the state university shall submit\nto the chairs of the senate finance committee and the assembly ways and\nmeans committee and the director of the budget for informational\npurposes, bi-monthly reports developed in consultation with the\naforementioned chairs and director of all receipts and disbursements of\nthe state university. These reports shall include but not be limited to:\n a. a comparison of actual receipts and disbursements with the fiscal\nyear expenditure and revenue plan;\n b. an allocation of lump sums;\n c. an allocation of lump sum positions;\n d. the reallocation between campuses of personal service based upon\nfull-time equivalent positions;\n e. transfers to other than personal service and temporary service;\n f. campus allocation changes; and\n g. identification of any revenue shortfalls, deficiencies, surpluses,\nor budgetary actions by the governor.\n 3. The trustees of the state university shall submit to the governor,\nthe state comptroller and the legislature, within one hundred twenty\ndays after the close of each state university fiscal year, an annual\nfinancial statement which has been audited by an independent certified\npublic accountant and prepared in accordance with generally accepted\naccounting principles as prescribed by the state comptroller.\n 4. On the fifteenth day of February, May, August and November of each\nyear, the state university shall provide the chairs of the senate\nfinance committee and the assembly ways and means committee and the\ndirector of the budget with: (a) quarterly reports summarizing all\nexpenditures from and status of the health care account and the\ncontractual reserve account authorized by subdivision eight-a of section\nthree hundred fifty-five of this article; and (b) a list of networks in\nwhich state university health care facilities are participating.\n 6. The state university trustees shall annually report on how the\nrevenue generated has been invested in faculty, instruction, initiatives\nto improve student success and on-time completion and student financial\nassistance for the duration of the four year tuition plan. The trustees\nshall submit the report by September first of each subsequent year.\n