Average Grade
According to the policy on Grading and Transcripts, an average grade (C) represents achievement that meets the course requirements in every aspect.
Baccalaureate Degree
An academic degree conferred by a college or university upon those who complete the undergraduate curriculum. Also called bachelor's degree.
Back-up Agreement
Written agreement between two parties that identifies and specifies the responsibilities of the parties as they relate to continuity and recovery in the event of an operational interruption. If the agreement is with non-University entities, it must be in contractual form. A copy of all Back-up agreements must be included in the Operating Unit's Op Con plan.
Balance Sheet Account
An account in the University's general ledger that records and summarizes financial transactions representing assets and liabilities of the University. Assets represent economic resources that benefit future accounting periods such as accounts receivable and investments, while liabilities represent external obligations of the University, such as bonds and leases payable.
Banners
Posters, flyers, signs, chalk and electronic messaging; and other written or printed matter, other than those resulting from the transaction of official University business and academic activity.
Base Salary
Appointment salary plus administrative augmentation; augmentation for an acting administrative appointment is not considered base salary.
Basis for Price
Explains how the vendor or contractor arrived at the dollar amount to charge the University when standard price list and catalogs are not available.
Basis of Vendor Selection
Explains why a department has chosen a specific supplier over other potential suppliers of a good or service.
Bid Threshold
Dollar amount, set by administrative policy and reviewed biennially by the Board of Regents, at and over which purchases must be competitively bid.
Biosafety Levels
Standard and special microbiological practices, safety equipment, and facilities recommended for work with a variety of infectious agents in various laboratory settings. These levels are defined by the U.S. Department of Health and Human Services in the latest edition of Biosafety in Microbiological and Biomedical Laboratories. Biosafety Level 1 (BSL-1) has the least restrictive containment requirements, Biosafety Level 2 (BSL-2) and Biosafety Level 3 (BSL-3) have increasingly more stringent containment requirements and Biosafety Level 4 (BSL-4) requires a dedicated facility. Four Animal Biosafety Levels (ABSL 1-4) describe the practices, safety equipment, and facilities for work with infected research animals
Blanket Order
A price agreement with a vendor establishing prices, discounts, or other terms, which will be in effect for a specific period of time, usually at least one year.
Blanket Restrictions – Boycotts, Anti-terrorism
A boycott is limitation or prohibition of exports, including services, or purchases from countries or individuals that have been identified by the U.S. government, except for public information. In limited instances, a license may be obtained.

For individuals or countries associated with terrorism, all exports are prohibited, including services, and purchases. Certain activities (such as development of weapons of mass destruction) are inherently contrary to the national interest, and any activity or export in support of those activities is illegal, no matter where it is conducted or who is conducting it.

Blanket Tax Exemption
Exempt organizations whose purchases are never taxable (with the exception of those items that are always taxable regardless of tax-exempt status).
Block M
The logo that consists of the capital letter "M" in the distinctive graphic design that is unique to the University. See "Block M" in the Graphic Standards Manual. Note that the Block M is a graphic design, not a font or a style of type. There are three versions of the Block M: solid, single outline, and double outline. Official versions in the allowed color combinations are available on the Images Library.
Board of Regents Policy
Umbrella policies that provide the framework and guiding principles under which the administration is responsible for implementation of, and compliance with, the intent of the Board of Regents policy.
Brand Elements
The basic components of the University’s brand. Brand Elements include the following: the Wordmark and Driven to Discover as graphic elements, the Driven to Discover campaign-related elements, and the official Web template header and footer.
Break-even Period
A time-period in which total revenues for a good/service should equal total expenses. Three-year average margin of + or - 15%, is considered an acceptable variance.  Annual variances within that range should be reflected in future rates. Variances greater than 15% need to be resolved with Internal Sales Compliance Office.
Broad Dissemination
To distribute widely, outside of the confines defined in this policy (e.g. distributing online, distributing to students outside of class, etc.).
Budget Overruns
Direct costs that are incurred and charged to a sponsored project, but are in excess of the awarded amount.
Budget Preparation
The process by which University units enter annual budgets for all non sponsored funds into the general ledger.
Business Entity

Any corporation, partnership, sole proprietorship, firm, franchise, association, organization, holding company, joint stock company, receivership, business or real estate trust, or any other nongovernmental legal entity organized for profit, nonprofit, or charitable purposes.

Business Interest
Holding any executive position (e.g., Chief Executive Officer, Chief Operating Officer, Chief Scientific or Technical Officer) in a business or membership on a board of a business entity, whether or not such activities are compensated.  The term “board of directors” refers to the board of any business including boards of trustees, scientific advisory boards, medical advisory boards, and boards of professional societies.
Business Telephone Use
May include occasional calls home while employee is in business travel status as follows: while out of town on a University business trip; returning from an out-of-town or extended day business trip; returning home at the end of a work day from a secondary work location other than employee's principal office on University campus.
Calendar Year
January 1 to December 31.
Campus, College, or Administrative Unit
The large unit that directly reports to a chancellor, dean, vice president, or a senior vice president.