The Resource Responsibility Center (RRC) is an organizational unit at the University accountable to central administration for the financial activities of units and organizations reporting to it.
- It receives Board of Regents approved central allocations, indirect cost recovery (ICR), and tuition attributions;
- develops budgets, compacts, and strategic plans on behalf of all its reporting units; and is led by one position of authority reporting to the President or a vice president.
Generally each campus, Twin Cities college, and major support unit is considered a RRC. RRC activities are coordinated by University Finance and University Budget.
The Chief Financial Manager (CFM) acts as the primary liaison between their RRC and University Budget & Finance and is accountable to the Chief Financial Officer of the University for all financial activities of the RRC including, but not limited to:
- planning and analysis;
- monitoring of the financial status of the RRC and its component units;
- oversight and approval of financial transactions;
- the development, training, and performance management of the RRC's financial staff;
- monitoring financial transactions of the RRC for compliance with University, State, and Federal policies; and
- maintaining finance-related communication between the RRC and University Budget & University Finance, the Controller's Office, Sponsored Projects Administration, Human Resources, and the local units within the RRC.
Who are the RRC Contacts?
In some areas, the RRC Contact and the Chief Financial Manager (CFM) are the same person. Where the positions are staffed by different people, the RRC Contact performs financial functions as delegated by the CFM. These delegations vary according to the needs of the individual RRC area. List of the RRC areas and contacts.
University Budget & University Finance maintain a moderated Google Group ([email protected]) for correspondence to the RRC Contacts, CFMs, and other selected financial personnel. Please send requests for relaying of messages to [email protected].