RCW 28B.15.120 Board of Trustees Or Regents-Annual Budget Requirements

• Library: Washington Statutes
• Edition: 2023
• Currency: Current through the 2023 1st Special Session
• Year: 2023
• Citation: RCW 28B.15.120

(1) The board of trustees or regents of each of the state's colleges and universities under RCW 28B.15.005 must specifically approve in an open public meeting, the annual budget for its programs for intercollegiate athletic competition in advance of any expenditure for that fiscal year.

(2) If a college or university's programs experience an operating deficit at the end of any fiscal year, the board of trustees or regents must:

(a) Approve a plan for how the programs will reduce operating deficits in future fiscal years;

(b) Conspicuously post to the college or university's website the financial statements of the programs for the three prior fiscal years and the plan in (a) of this subsection. Any public records request for a copy of the financial statements or plan must be at no cost to the requester;

(c) Approve in advance any transfer exceeding two hundred fifty thousand dollars; and

(d) Except as provided in subsection (3) of this section, approve in advance any expenditure over two hundred fifty thousand dollars that was not included in the approved annual budget, in an open public meeting.

(3) Approval of an expenditure by the board of trustees or regents may occur at the next regularly scheduled board meeting after the expenditure if the expenditure is:

(a) Time sensitive and the net fiscal impact of the expenditure results in a direct revenue gain to the program; or