Business & Finance Officers Required Absences

Chapter 2 Section 2:002
FINANCE Business and Finance Officers Required Absences

ADOPTED:                     01/01/2024

MU Division of Finance & Business Services


It is every MU employee’s responsibility to be good stewards of the resources entrusted to the University and to make decisions and take actions in good faith that serve the best interests of the University.  The lead financial officer for a college, school, or division (CSD) at MU is the business and finance officer (BFO).  The BFO is responsible for providing financial leadership, advice, and potential solutions for their college, school, or division (CSD); as well as providing oversight of funds and ensuring internal controls are sufficient to minimize all risk and ensure assets are safeguarded.  See BPPM 2:001.

To ensure sound internal control, the division BFO will be required to take five (5) consecutive business days away from their position (in person and virtual) each calendar year.  In large colleges, schools, or divisions, the vice chancellor for finance may determine that additional finance employees with significant fiscal authority and control must also comply with this policy. It is the responsibility of the BFO to work with the vice chancellor for finance at the beginning of each calendar year to schedule this required time away from the office.