The Student Council voted unanimously to approve a series of fiscal policy changes that UVU’s finance and business services department has enacted to update and overhaul old and new policies.
Meeting back on Mar. 2, the council heard from Kedric Black, a controller in Finance and Business Services, who gave remarks informing the council of the changes they were making to a variety of UVU’s fiscal policies, including adjustments like mandating direct deposit for employees, deterring fraud, safeguarding public funds and funding grant programs.
Black presented on changes to four university policies. The first pertains to Policy 141. This policy deals with cost transfers for sponsored programs, particularly when it comes to federal aid programs.“A lot of that was updating terminology,” Black stated as to the reason for the change.
The next change came to Policy 201, which deals with the university’s general fiscal policies and procedures. Black had reported to the student council that this was a “major” rewrite of the policy that had previously taken effect back in 2003. This rewrite was to update procedures pertaining to safeguarding public funds and deterring fraud within the campus.
Policy 202 was next to be presented to the council and addressed the changes that were made to payroll policies on campus. Within the new changes, wording was changed to make direct deposit the mandatory payment method for all faculty and student employees. Black cited the reason for this change being that considering how much the university had grown, it was easier for payment to be delivered by this method.
Finally, Policy 205, which pertains to university policy on investments procedures, was the last policy shown to the council. Within the reported changes, procedures were simplified in order to allow for better management of these investment funds.
After the presentation, the council voted unanimously to approve these policies. The meeting also ended early on the account of the on-going election. For more information on the student council and their meetings, visit their website.
