CAPITAL FINANCING
Effective: August 15, 2024
Purpose: To ensure responsible and transparent management of capital debt by Emporia State University, while complying with relevant regulations and safeguarding the University’s financial health and long-term sustainability.
Scope: This policy applies to all University personnel that make decisions on the University’s capital expenditure.
Responsible Office: Business & Finance Office; President’s Office
Policy Statement: Capital debt may be incurred by Emporia State University when consistent with the University’s strategic plan and campus master plan. All disclosure obligations required by regulatory bodies and rating agencies will be met annually, with responsibility for accuracy resting with the University President or designee and other designated officials. The University’s Chief Financial Officer is responsible for overseeing capital debt issuance and management, with the University Controller serving as the Bond Compliance Officer. Additionally, the University will annually prepare a debt capacity plan, consistent with instructions issued by the Kansas Board of Regents (KBOR).
Likewise, there is an obligation to disclose all material matters which could have an impact on the overall financial condition of the University. This responsibility remains for the life of the issuance of the debt and an annual certification for each obligation is the norm.
Definitions: All words and phrases shall be interpreted utilizing their plain meanings unless otherwise defined in University or Board of Regents policy or by statute or regulation.
Procedures: All procedures linked and related to the policies above shall have the full force and effect of policy if said procedures have first been properly approved by the University’s administrator in charge of Budget and Finance Procedures.
[Budget and Finance procedures - coming soon]
Related Policy Information: [Chapter II, Section D 12 and E of the Policy and Procedure Manual of the Kansas Board of Regents - coming soon]