The University has decentralized budget planning and decision making to give departments more control over their expenditures. The University’s Fiscal Responsibility Policy provides guidance to those employees in the proper and legal use of scarce University resources. The University recognizes the value in being reminded it is not our money we are spending, and we want to spend it in a way our students and taxpayers agree is in furtherance of our educational mission.
The University receives funding from diverse sources ranging from taxpayers and students to benefactors. Regardless of the source, the University has an obligation to demonstrate that it has been, and continues to be, a wise steward of these funds.
On a regular basis, University employees are involved in the expenditure of funds. Employees should be conscious of the propriety of each expenditure, as well as the issue of conservation of funds.
The University's Fiscal Responsibility Policy addressing impropriety in expenditure of University funds was created with official guidance from the Missouri Code of State Regulations, 1 C.S.R. 10-3(2).