Board of Regents adopts collective bargaining agreement, midyear budget update and tighter P-card policy

The Board of Regents for the Connecticut State Colleges and Universities on Feb. 27 approved three formal measures: a tentative collective bargaining agreement covering Charter Oak State College and the Congress of Connecticut Community Colleges represented by SEIU Local 1973; the systemwide fiscal year 2025 midyear budget update; and a new purchasing-card (P‑card) policy tightened in response to recent audit findings.

The board voted to approve the collective bargaining agreement after an executive session; the resolution forwards the agreement to the Connecticut General Assembly for its required review under Connecticut General Statutes Section five-two 78 and authorizes CSCU Chancellor Terrence Chang to execute the contract following legislative approval. The motion passed on voice vote with the chair declaring the resolution adopted.

Separately, the board approved the fiscal year 2025 midyear budget update. Systemwide revenues were reported up $37 million and expenditures down $3 million versus the plan adopted in June, producing a revised projected year‑end surplus of $44.3 million, up from an earlier projection of $3.9 million. Regents voted to adopt the update by voice vote.

The board also approved a revised P‑card policy intended to strengthen controls after audits and internal reviews identified weaknesses. The policy, which the board said is stricter than current state policy, includes multi‑tiered review, limits on P‑card users and mandatory training; the board recorded that P‑card counts have been reduced from more than 1,100 to about 900 and that further reductions are desired. Regents moved to approve the policy and the motion carried.

Chair Sherry Guay thanked system and union negotiators, the system finance staff and audit team for their work on the items. Board members and staff noted that some measures—most notably the collective bargaining agreement—require outside approvals (legislative review for the contract) and that the P‑card policy will have a phased implementation date to allow institutions time to adopt procedures and training.

Votes at a glance - Collective bargaining resolution (Congress of Connecticut Community Colleges and Charter Oak State College, tentative agreement dated 02/27/2025): Motion to approve and forward to the Connecticut General Assembly; outcome: approved (voice vote). Referenced authority: Connecticut General Statutes Section five-two 78. - Fiscal year 2025 midyear budget update: Motion to approve; outcome: approved (voice vote). Reported system projection: $44.3 million surplus (revenues +$37M, expenditures −$3M). - Purchasing‑card policy revision: Motion to adopt new P‑card policy; outcome: approved (voice vote). Implementation/effective date referenced for policy changes: 04/01/2025 (to allow institutions to draft policies and provide training).

The board took these votes after committee reports and staff presentations and then proceeded with other agenda items.