Annual budget approval policies

In accordance with article 42.1.m of the University’s Organisational and Operational Regulations, the rector is responsible for presenting, in agreement with the director general of the FUB, the draft budget of the University of Vic and investment plans to the Board of Trustees.

On the other hand, according to Article 13.2 section XI of the Statutes of the Balmes University Foundation, it corresponds to the Board of Trustees of the Balmes University Foundation to approve, if applicable, the budget and documents that comprise the annual accounts, annual report, balance sheet, budgets and budget settlement, and other documents required by current legislation.

In terms of the federation agreement of the Balmes University Foundation, one of the federation principles is maximum economic, financial and assets independence for the federated institutions. This means that each foundation manages its own budget independently.