Charge and Work of the FEAC:

  • The President shall provide the FEAC with a formal written charge, including a timeline for its work.
  • The FEAC shall have access to all relevant institutional financial information (e.g., audited financial statements, budget reports, enrollment data and projections, revenue forecasts, debt obligations, status of reserves, details of prior retrenchment efforts) and key personnel necessary to conduct its work, subject to confidentiality agreements where appropriate for sensitive data.
  • The FEAC shall:
  • Thoroughly investigate and analyze KSU's current and projected financial condition.
  • Evaluate the nature, extent, and effectiveness of past and ongoing resource management and retrenchment efforts.
  • Explore and document all viable alternatives to declaring financial exigency, including further specific retrenchment measures, revenue enhancement strategies, and strategic restructuring options, assessing their potential impact and feasibility.
  • Solicit campus-wide feedback on the financial situation and potential solutions through transparent means (e.g., dedicated KSU email address, secure online feedback forms, open forums, or town hall meetings, with summaries of non-confidential feedback made available).

FEAC Report and Presidential Recommendation:

  • Upon completion of its work, the FEAC Chair shall submit a comprehensive written report to the President. This report shall include:
  • A detailed summary of its review process and methodologies.
  • An analysis of KSU's financial situation, including key data and projections.
  • An assessment of alternatives to financial exigency and their potential efficacy.
  • A summary of campus feedback received.
  • The FEAC's specific recommendation for or against a declaration of financial exigency, including a clear rationale and any dissenting opinions within the committee.
  • The President shall review the FEAC report and may request clarification or additional information from the FEAC.
  • The President shall then formulate their own recommendation to the Board of Regents. This recommendation, along with the full FEAC report, shall be forwarded to the Board of Regents for decision-making.