Common use of Financial Exigency Clause in Contracts

Financial Exigency. 23.3.1 A financial exigency is a condition of projected deficit in the College’s budget of such an order of magnitude that a reduction of faculty members is necessary. The Board of Trustees may declare a state of financial exigency, and authorize the following processes for reducing the size of the faculty, only after broad consultation with the academic administration, the faculty, and the UFE. As part of this process, the College shall make available budget and other relevant data to allow all parties to assess the financial exigency. 23.3.2 During a period of financial exigency, all members of the faculty are subject to reassignment to accommodate curricular changes made necessary by staffing and budget reductions. 23.3.3 If a financial exigency is declared, the College will provide notice by e-mail and US mail to UFE. The College will prepare a plan to address the financial exigency and will provide that plan to UFE. UFE will be allowed thirty (30) calendar days to review the plan and to provide input to the College. The plan will consist of actions taken in the following order:

Financial Exigency. 23.3.1 A financial exigency is a condition of projected deficit in the College’s budget of such an order of magnitude that a reduction of faculty members is necessary. The Board of Trustees may declare a state of financial exigency, and authorize the following processes for reducing the size of the faculty, only after broad consultation with the academic administration, the faculty, and the UFE. As part of this process, the College shall make available budget and other relevant data to allow all parties to assess the financial exigency. 23.3.2 During a period of financial exigency, all members of the faculty are subject to reassignment to accommodate curricular changes made necessary by staffing and budget reductions. 23.3.3 If a financial exigency is declared, the College will provide written notice by e-mail and US mail to UFE. The College will prepare a plan to address the financial exigency and will provide that plan to UFE. UFE will be allowed thirty (30) calendar days to review the plan and to provide input to the College. The plan will consist of actions taken in the following order:

Financial Exigency. 23.3.1 A financial exigency is a condition of projected deficit in the College’s budget of such an order of magnitude that a reduction of faculty members is necessary. The Board of Trustees may declare a state of financial exigency, and authorize the following processes for reducing the size of the faculty, only after broad consultation with the academic administration, the faculty, and the UFE. As part of this process, the College shall make available budget and other relevant data to allow all parties to assess the financial exigency. 23.3.2 During a period of financial exigency, all members of the faculty are subject to reassignment to accommodate curricular changes made necessary by staffing and budget reductions. 23.3.3 If a financial exigency is declared, the College will provide notice by e-e- mail and US mail to UFE. The College will prepare a plan to address the financial exigency and will provide that plan to UFE. UFE will be allowed thirty (30) calendar days to review the plan and to provide input to the College. The plan will consist of actions taken in the following order:

Financial Exigency. 23.3.1 21.3.1 A financial exigency is a condition of projected deficit in the College’s budget of such an order of magnitude that a reduction of faculty members is necessary. The Board of Trustees may declare a state of financial exigency, and authorize the following processes for reducing the size of the faculty, only after broad consultation with the academic administration, the faculty, and the UFE. As part of this process, the College shall make available budget and other relevant data to allow all parties to assess the financial exigency. 23.3.2 21.3.2 During a period of financial exigency, all members of the faculty are subject to reassignment to accommodate curricular changes made necessary by staffing and budget reductions. 23.3.3 21.3.3 If a financial exigency is declared, the College will provide written notice by e-mail and US mail to UFE. The College will prepare a plan to address the financial exigency and will provide that plan to UFE. UFE will be allowed thirty (30) calendar days to review the plan and to provide input to the College. The plan will consist of actions taken in the following order: