(a) The board of trustees shall direct and control the property, personnel and management of the college, develop broad policy and make all necessary bylaws and regulations not inconsistent with either the provisions of the Constitution, laws of the Commonwealth or rules and regulations of the State Board of Education.

(b) The board of trustees shall elect a president, set the salary and delineate the duties and responsibilities of the president.

(c) The board of trustees shall coordinate, review and approve the annual capital budget requirements of the college and the annual operating budget of the college. It shall present these annual budgets with comments to the Secretary of Education for presentation to the State Board of Education. The State Board of Education shall return such budget requests, recommending approval or disapproval, with comments, if any, to the Secretary of Education prior to their submission to the Secretary of the Budget. The board of trustees may also submit its budget recommendations and findings to the General Assembly subsequent to the submission of the Governor's budget to the General Assembly.

(d) The board of trustees shall have the authority to determine the complement and to manage all personnel matters for the college. The board of trustees shall be exempt from all provisions of the act of April 9, 1929 (P.L. 177, No. 175),¹ known as “The Administrative Code of 1929,” and the act of April 9, 1929 (P.L. 343, No. 176),² known as “The Fiscal Code,” requiring the approval or decision of any executive agency with respect to complement control and personnel administration for the college.

(e) Subsequent to the enactment of the General Appropriation Act for each applicable fiscal year by the General Assembly, the board of trustees shall have the authority to rebudget and reallocate the budgeted funds appropriated to the college at its discretion without the necessity of further approval or direction by any executive agency. The board of trustees shall be exempt from all provisions of “The Administrative Code of 1929” and “The Fiscal Code” requiring the approval or decision of any executive agency with respect to the rebudget and reallocation of budgeted funds to the college.

(f) The board of trustees shall be responsible for the proper expenditure, investment and disposition of all funds, both appropriated and unappropriated, necessary for the operation of the college.

(g) The board of trustees shall be responsible for the appointment of the comptroller of the college, who shall not be subject to appointment by the Governor.

(h) Subsequent to the enactment of the General Appropriation Act for each applicable fiscal year by the General Assembly but not earlier than July 1 of each fiscal year, the State Treasurer shall make available to the board of trustees the amount of funds appropriated to the college for that fiscal year.

(i) The board of trustees shall cooperate with and accept grants and assistance from Federal and State agencies, local governments or other political subdivisions, foundations, corporations or any other source for any of the lawful purposes of the college. All moneys received from sources authorized by this section are hereby appropriated to the Thaddeus Stevens College of Technology.

(j) The board of trustees shall have no power at any time or in any manner to pledge the credit or taxing power of the Commonwealth of Pennsylvania, nor shall any of its obligations or debts be deemed to be obligations of the Commonwealth of Pennsylvania, nor shall the Commonwealth of Pennsylvania be liable for the payment of principal or interest on such obligations.

(k) The board of trustees shall have the authority to cause an independent audit of the finances of the college.