The College Policy Committee functions as the Budgetary Affairs Committee of the College, as stipulated by policies adopted by the Budgetary Affairs Committee of the Bloomington Faculty Council. In this role it advises the Dean on budgetary and salary matters, sets general salary policies for the College, and monitors departmental policies for conformity with College policies.

1. In order to provide the Dean with informed advice on budgetary matters, the Committee receives copies of the annual budget forecast prepared for the Trustees, and at a meeting of the Committee normally in the spring semester, the Dean further explains such expenditures where needed. The Committee is also informed of the dates of any regular budget conference between the Dean (or the Dean's representative) and a department chair or program director and may send one of its members to the conference. Such a representative will maintain the confidentiality of the budget process.

2. Early in the fall semester, the Dean will discuss with the College Policy Committee the major expenditures of contingency funds during the preceding fiscal year. The Dean should also consult the heads of the recipients' units before making disbursements; those requesting support from contingency funds should already have consulted the heads of their units.