CT HB05545

Board of Regents for Higher Education becomes the budgeted agency for all Connecticut State Colleges and Universities constituent units, with authority to develop formula or program-based budgeting systems effective July 1, 2021

Board of Regents shall prepare a single consolidated budget request itemized by system type and central office, specifying total appropriations, General Fund amounts, and tuition revenues

Allotment reductions from the state budget are applied by the Board of Regents among constituent units and central office without standard reduction limitations, except reductions exceeding 5% require approval from the appropriations committee within 30 days

Constituent unit boards of trustees may transfer up to $50,000 or 10% of any specific appropriation (whichever is less) without Finance Advisory Committee consent, with notification required within 30 days

Board of Regents authority over Regional Community-Technical Colleges Operating Fund and Connecticut State University System Operating Fund is clarified, including control of tuition revenue allocation and facility improvement approvals