Rutgers Law

New Jersey Statutes, Title: 18A, EDUCATION

    Chapter 3b:

      Section: 18A:3b-53.9: Chief financial officer, public institution of higher education, training program.

          9. a. As a condition of appointment as a chief financial officer of a public institution of higher education pursuant to section 8 this act, the chief financial officer shall complete a training program developed by the Secretary of Higher Education that is designed to clarify the roles and duties of a chief financial officer of a public institution of higher education.

b. The training shall be completed no later than six months after the date the chief financial officer is appointed by an institution. A person who serves as the chief financial officer of a public institution of higher education prior to the effective date of this act shall complete the training within six months of the date the training is first made available by the secretary.

c. The secretary shall:

(1) prescribe the subject matter of the training which shall include, but not be limited to: the role of a chief financial officer at a public institution of higher education; a review of the types of financial, organizational, legal, and regulatory issues that a chief financial officer of a two-year or four-year public institution of higher education may be required to consider in the course of the chief financial officer's duties; the role of the chief financial officer in ensuring the fiscal stability of an institution; the responsibility of the chief financial officer to report on the financial condition of the institution to the secretary, the governing board, and president of the institution on a regular basis on as required pursuant to section 8 of this act; and changing trends and fiscal matters relating to the management of a public institution of higher education;

(2) arrange for an entity or entities to provide the training;

(3) conduct a periodic review of the prescribed subject matter of the training to ensure that the training includes relevant changes to State or federal law and other information deemed necessary to enable a chief financial officer to serve effectively; and

(4) develop the training program and make the training program available to chief financial officers of public institutions of higher education no later than 90 days after the effective date of this act.

d. Training pursuant to this section may, upon approval of the secretary, be made available online.

e. The institution shall certify completion of the training required pursuant to this section for a chief financial officer upon receipt of documentation thereof, as provided on a form and in a manner prescribed by the secretary.

f. The secretary shall provide notification to a chief financial officer who has failed to comply with the requirements of this section and provide the chief financial officer with a 30-day grace period to fulfill the outstanding training requirement. The secretary may provide additional extensions to the grace period. Notwithstanding any other provisions of law to the contrary, failure to fulfill the training requirement within the required period may, at the discretion of the secretary, constitute a resignation from the public institution of higher education and shall disqualify a chief financial officer from being appointed to any other public institution of higher education.

g. The secretary may, from time to time, make additional training courses or modules available to chief financial officers of public institutions of higher education.

L.2023, c.115, s.9.

This section added to the Rutgers Database: 2023-11-14 12:15:16.

Older versions of 18a:3b-53.9 (if available):

Court decisions that cite this statute: CLICK HERE.