Section 10a-NEW - [Newly enacted section not yet numbered] Higher Education Financial Sustainability Advisory Board(a) There is established a Higher Education Financial Sustainability Advisory Board, which shall be part of the Legislative Department.(b) The board shall consist of the following members: (1) The chairpersons and ranking members of the joint standing committee of the General Assembly having cognizance of matters relating to appropriations and the budgets of state agencies;(2) The members of the higher education subcommittee of the joint standing committee of the General Assembly having cognizance of matters relating to appropriations and the budgets of state agencies;(3) The chairpersons and ranking members of the joint standing committee of the General Assembly having cognizance of matters relating to higher education and employment advancement; and(4) The Secretary of the Office of Policy and Management. (c) The chairpersons of the joint standing committee of the General Assembly having cognizance of matters relating to appropriations and the budgets of state agencies and the Secretary of the Office of Policy and Management shall jointly serve as chairpersons of the board. Such chairpersons of the board shall schedule the first meeting of the board, which shall be held not later than September 1, 2024. The board shall meet at least quarterly thereafter. A majority of the board shall constitute a quorum for the transaction of any business.(d) The administrative staff of the joint standing committee of the General Assembly having cognizance of matters relating to appropriations and the budgets of state agencies shall serve as administrative staff of the board.(e) The board shall have the following powers and duties: (1) Meet with the administrators of each public institution of higher education and The University of Connecticut Health Center to accept and review the information set forth in subsection (f) of this section and to discuss barriers to meeting state workforce needs, developing economic growth and achieving or maintaining affordable tuition; (2) obtain from any executive department, board, commission or other agency of the state such assistance and data as necessary and available to carry out the purposes of this section; and (3) perform such other acts as may be necessary and appropriate to carry out the duties described in this section.(f) Each public institution of higher education and The University of Connecticut Health Center shall each submit to the board, upon the request of the chairpersons of the board, the following information: (1) A detailed financial report for the current fiscal year, subsequent fiscal year and five preceding fiscal years that identifies each source of revenue, category of expense and any assumptions upon which such reports are based;(2) If the detailed financial report for the current fiscal year or subsequent fiscal year projects a deficiency, a detailed plan that eliminates such deficiency;(3) A summary and general ledger account code analysis of the unrestricted net position of such institution for the most recently completed fiscal year;(4) The number of full-time and part-time students enrolled disaggregated by in-state and out-of-state;(5) The number of vacant and filled employment positions disaggregated by bargaining unit and management confidential type with corresponding average salaries from the first payroll in October of such fiscal year;(6) A summary of cost drivers for such institution;(7) A summary of budget constraints affecting (A) workforce developments, economic development efforts and student quality of life, including, but not limited to, time required for degree completion, and (B) research productivity and faculty retention and recruitment; and(8) Any other financial, operational, performance or other outcome information, metrics or data requested by the board.(g) The board may require a public institution of higher education to submit the information set forth in subsection (f) of this section on a disaggregated basis.Conn. Gen. Stat. § 10a-NEW
Added by P.A. 24-0081,S. 107 of the Connecticut Acts of the 2024 Regular Session, eff. 7/1/2024.