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Revision Date: 8/14/2019
Last Review: 8/14/2019
Responsible Office: Office of the President
Reference: Board of Supervisors Rules, Part Two, Chapter 3, Section XVI

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Policy:

The University follows and is subject to the ULS Board of Supervisors Policy on Financial Exigency, which can be found in the Board of Supervisors’ Rules, Part Two, Chapter III, Section XVI.  When the Board of Supervisors determines that a condition of financial exigency exists at an institution, program, or budget unit within an institution, or in the University of 91¸£Àû System generally, then the furlough, layoff, and/or termination of tenured faculty, non-tenured faculty, or other contract employees before the end of their contract term will be handled in accordance with the Board of Supervisors Financial Exigency policy. 

Definitions:

Financial Exigency - A condition of financial exigency shall exist whenever the financial resources of an institution, program or budget unit are not sufficient to support the existing programs and personnel of the institution without substantial impairment of the ability of the entity to maintain the appropriate level of programs and services. Financial exigency may result from a substantial reduction in financial resources or from the failure to receive increases in financial resources sufficient to maintain the appropriate
level of service. Evidence of financial exigency may include, among other factors, reduction of state appropriations, faculty and staff salary levels substantially below national and regional averages, significant loss of personnel, or inability to attract new personnel apparently due to inadequate salary and other support, and substantial threat of deterioration of facilities due to lack of resources for maintenance.

Procedures:

See Board of Supervisors Rules, Part Two, Chapter III, Section XVI. Financial Exigency.