Promulgate state financial management administrative regulations in accordance with KRS 164A.560 and delegate the responsibilities for these functions to the President of the University. These financial management functions include purchasing and the acquiring, receiving, depositing, collecting, retaining, investing, disbursing, and accounting of all funds received or due from any source;

Approve any appropriation, expenditure, disbursement, or contract exceeding $1,000,000 in a single fiscal year, notwithstanding the provisions of KRS 164A.560 and 745 KAR 1:035;

Approve the Constitution and bylaws of the Faculty Senate, the Staff Senate, and the Student Government Association, except when they are in conflict with these Bylaws or with governing Board policies;

Periodically review and approve the University’s vision, mission, and proposed long-range strategic plans;

Commit to, and abide by, the major responsibilities of this governing Board, as set out in these Bylaws and the Kentucky Revised Statutes, including:

Defining, clarifying, and approving the