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maintain confidentiality in personnel matters.
III.B.9. Declaration of Financial Exigency, Resulting Discontinuance of Programs and
Departments, Reductions in Force, and Resulting Terminations
Financial exigency is present when the financial position of the institution as a whole, as
demonstrated by competent evidence, is such that the financial resources of the institution are
insufficient to support existing programs. The President shall have the responsibility to keep the
Faculty fully informed regarding the financial condition of the College.
III.B.9.a. Role of Faculty in Declaration of Financial Exigency
If the Board of Trustees seriously considers declaring a state of financial exigency or the
President seriously considers recommending to the Board of Trustees that it declare a
state of financial exigency, the Faculty Advisory Committee must be notified promptly.
Upon notification, a Faculty Review Committee shall be constituted under section
III.B.8.a. The Faculty Review Committee shall represent the Faculty in determining if, in
fact, a
bona fide
financial shortfall or other emergency requiring a reduction in
institutional costs exists that warrants a declaration of financial exigency. While the
Board of Trustees has the ultimate authority to declare that the College is in a state of
financial exigency, it shall not make such a declaration until the duly authorized Faculty
Review Committee shall have had a reasonable opportunity to review the financial
condition of the College and submit a recommendation. The President and/or Provost
shall provide to the Faculty Review Committee full particulars of the financial condition
of the College and, if appropriate, preliminary recommendations on how the financial
shortfall or other emergency can be alleviated with or without the declaration of financial
exigency. The Faculty Review Committee shall have access to all relevant financial data.
The Faculty Review Committee shall make its recommendation to the President and
Board of Trustees for or against the declaration of financial exigency within fourteen
days of receiving the information it requested. The Faculty Review Committee may
submit its own recommendations on how the financial shortfall or other financial
emergency requiring a reduction in institutional costs can be alleviated or it may endorse
those proposed by the President, the Provost, and/or the Board of Trustees. The process
of making a recommendation by the President to the Board of Trustees for or against a
declaration of financial exigency as well as the Board of Trustees’ final decision on
declaring exigency must include consultation with the Faculty Review Committee. If the
President decides to recommend to the Board of Trustees the declaration of a state of
financial exigency, the Faculty Review Committee shall be immediately notified. If the
Faculty Review Committee’s recommendation concerning the declaration of financial
exigency differs from that of the President, both recommendations shall be submitted to
the Board of Trustees. The Faculty Review Committee shall keep the Faculty informed
either through normal committee processes and reports at regularly scheduled faculty
meetings or such other means as the Committee deems appropriate.