• The Vice President of Finance & Administration, based on ongoing financial monitoring, budget projections, analysis of key financial indicators, and the insufficiency of implemented retrenchment measures, shall formally advise the President in writing if financial conditions may warrant the declaration of financial exigency. This advice shall include a summary of the financial situation and relevant data.
• Within five (5) calendar days of receiving such advice, or upon their own determination of severe financial concerns, the President shall:
• oInform the Chair of the Board of Regents of the situation.
• oNotify the KSU community (e.g., via official KSU email, website announcement) that KSU is formally assessing the possibility of financial exigency. This initial notification shall provide a general statement about the serious financial concerns, the initiation of a formal review process, and the forthcoming formation of the FEAC.
• oConvene the FEAC.
• Composition of the FEAC:
• oProvost and Vice President of Academic & Student Affairs
• oVice President of Finance & Administration
• oFaculty Senate President (or designee)
• oStaff Senate President (or designee)
• oOne (1) Academic Dean, elected by and from among their fellow Deans
• oOne (1) Academic Chair, elected by and from among their fellow Chairs
• oTwo (2) tenured faculty members, elected by the Faculty Senate
• oOne (1) staff member, elected by the Staff Senate
• oNon-voting, ex-officio members shall include:
• The President may appoint up to two (2) additional non-voting, ex-officio members in their sole discretion. The President shall appoint the Chair of the FEAC from among its voting members. The Chair shall be responsible for convening meetings, setting agendas in consultation with the committee, and ensuring the timely completion of the committee's report.
• The Director of Human Resources (or designee)
• The Student Government Association President (or designee)
• The General Counsel (or designee)