MS SB2956

Board of Trustees of State Institutions of Higher Learning shall establish a central business office by July 1, 2014 to administer payroll, accounting, accounts receivable, and accounts payable services for all public universities in Mississippi.

Board of Trustees shall serve as the purchasing agent for all universities beginning July 1, 2014, consolidating purchases of perishables, food, commodities, supplies, equipment, utilities, and transportation vehicles; petty cash purchases of $100 or less are exempt from this requirement.

Universities must transfer one-twelfth of their grant fund costs monthly to the Board of Trustees to cover salary payments from non-state funds, with the State Fiscal Officer responsible for distributing payroll via electronic funds transfer.

Board of Trustees shall annually determine and report to the Legislature the cost savings achieved through payroll and purchasing consolidation, which savings shall be appropriated back to the university system.

Executive Director of the Department of Finance and Administration may consolidate the Office of University Business and Payroll and Office of University Purchasing into that department with the Governor's written approval.