Effective Date: July 1, 2014
Last Reviewed: July 1, 2015
Interim Date: July 21, 2015
The purpose of the policy is to establish financial reporting guidelines for Meharry
Medical College which assists the Finance Committee and the Board of Trustees to make
informed financial decisions in carrying out its fiduciary responsibility and allows
financial management to manage and utilize the assets and resources of the College
in an efficient, cost-effective and timely manner.
It is the policy of Meharry Medical College to provide financial reports to the Finance
Committee of the Board of Trustees on a quarterly basis. The information must be accurate,
timely, reliable, and consistent. The reports are designed to provide comparative
analysis based on prior year actual to current data. The reports compare actual activity
to budgeted activity in both revenues and expense, and show the variance.
The financial reports are available on a monthly basis to the campus community by the 5th working day of each month.
This policy is currently awaiting approval. You can view the interim policy to the right or by clicking here.