359. Reports of the state university trustees. 1. The trustees of the state university shall make, on or before January first of each year, an annual report of its activities and such recommendations as it may deem appropriate to the board of regents, the governor, the state comptroller and the legislature. This annual report shall include a summary of state university's (1) operations and accomplishments; and (2) revenues and expenditures, in accordance with the categories or classifications established by the trustees of the state university for operating and capital outlay purposes. A copy of such report shall also be transmitted to the council of each state-operated institution.
2. On the fifteenth day of September, November, January, March, May and July of each year, the trustees of the state university shall submit to the chairs of the senate finance committee and the assembly ways and means committee and the director of the budget for informational purposes, bi-monthly reports developed in consultation with the aforementioned chairs and director of all receipts and disbursements of the state university. These reports shall include but not be limited to:
a. a comparison of actual receipts and disbursements with the fiscal year expenditure and revenue plan;
b. an allocation of lump sums;
c. an allocation of lump sum positions;
d. the reallocation between campuses of personal service based upon full-time equivalent positions;
e. transfers to other than personal service and temporary service;
f. campus allocation changes; and
g. identification of any revenue shortfalls, deficiencies, surpluses, or budgetary actions by the governor.
3. The trustees of the state university shall submit to the governor, the state comptroller and the legislature, within one hundred twenty days after the close of each state university fiscal year, an annual financial statement which has been audited by an independent certified public accountant and prepared in accordance with generally accepted accounting principles as prescribed by the state comptroller.
4. On the fifteenth day of February, May, August and November of each year, the state university shall provide the chairs of the senate finance committee and the assembly ways and means committee and the director of the budget with: (a) quarterly reports summarizing all expenditures from and status of the health care account and the contractual reserve account authorized by subdivision eight-a of section three hundred fifty-five of this article; and (b) a list of networks in which state university health care facilities are participating.
* 5. The state university trustees shall conduct a study regarding the effectiveness and functionality of the New York state tuition assistance program, which shall consider a variety of factors including, but not limited to, the costs associated with pursuing a degree in undergraduate study, current tuition assistance program thresholds and award levels, current eligibility criteria to qualify for an award under the tuition assistance program, and any other information the trustees determine to be relevant. The study shall also include recommendations to improve the tuition assistance program to better meet the future financial aid needs of students who reside in New York state and to ensure continued access and affordability of the state university of New York. The study shall be submitted to the governor, the temporary president of the senate, the speaker of the assembly, the director of the division of the budget, the senate finance committee, the assembly ways and means committee and the higher education committees of the legislature on or before October first, two thousand thirteen. In addition, the state university shall annually examine and report on each state-operated campus' efforts to promote fiscal stability for the duration of the five year tuition plan by implementing cost saving measures and increasing fundraising efforts. Further, the trustees shall periodically review their patent policies to ensure competitiveness, and shall annually report on how the revenue generated by this paragraph has helped retain and grow full-time faculty and increase program availability. The University Centers shall also report annually to the state university trustees on how research revenue yields quantifiable results for each of the four campuses and state university of New York at Buffalo and state university of New York at Stony Brook shall additionally report on what each campus is doing to maintain their AAU status.
* NB Repealed July 1, 2016
Last modified: September 11, 2016