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Guideline��

Fiscal authority carries an obligation for sound stewardship, compliance, and oversight. Individuals with fiscal responsibility are accountable for ensuring resources are managed appropriately, policies are followed, and risks are identified and addressed in a timely manner.��

• Executive leaders, Fiscal Principals, and unit leaders are accountable for ensuring resources are managed appropriately, employees understand their fiscal roles, and institutional policies, are consistently followed.��

• Clear fiscal accountability—supported by strong department-level controls and accurate reporting—reduces institutional risk, promotes equitable policy application, and strengthens trust in CU �Ǹ�Թ�’s financial stewardship.��

Key Details

The following institutional policies establish the baseline expectations for fiscal responsibility at CU �Ǹ�Թ�:��

• Fiscal Roles & Responsibilities��
  All Fiscal Principals are responsible for taking reasonable action to ensure employees within their responsibility units understand their fiscal roles and are properly carrying out their fiscal responsibilities.��
  �� ��

• Budget & Net Position Management��
  Campus departments are expected to maintain adequate resources to cover expenditures—either through budget or revenue, as appropriate by fund type—and to ensure consistent and accurate reporting and categorization of fund balances.��
  �� (CU �Ǹ�Թ� Policy: Budget & Net Position Internal Reporting)��

Management Expectations and Best Practices��

In addition to policy compliance, effective fiscal management at CU �Ǹ�Թ� includes the following expectations:��

• Accountability for resources��
  Organization Principals are responsible for the sound fiscal management of all funds assigned to their units.��

• Alignment with institutional objectives��
  Units are expected to deploy financial resources in a manner that supports both unit-level goals and broader university priorities.��

• Department-level fiscal controls��
  While central offices provide guidance and oversight, responsibility for implementing and maintaining effective fiscal controls resides at the departmental level.��

These expectations are outlined in the Departmental Financial Management Guide (“The Guide”), maintained by the Campus Controller’s Office.��

Why this matters

Clear accountability for fiscal decision-making:��

• Supports consistent and equitable application of financial policies��

• Reduces institutional risk��

• Strengthens trust in the university’s financial stewardship��

• Enables informed decision-making across all levels of the organization��

Fiscal responsibility is not limited to budget officers; it is a shared leadership responsibility embedded in decision-making at all levels of the institution.��