All members of collegium were appointed by the Emperor of Russia or the Governing Senate out of Russian military officers or civil servants.
In civil affairs, the Collegium was responsible to the Governing Senate, in military - the Commander-in-chief of the Russian Armed Forces in Hetmanate.
The Collegium of Little Russia for the first time in full volume attracted Cossacks finances to the royal (tsar's) treasury.
The attempts of Appointed Hetman Pavlo Polubotok and number of senior officers to counteract the process led to their arrest and imprisonment in the fortress of Peter and Paul (Saint Petersburg).
After the ascension of Peter II on the Russian throne, the political course of the collegium was reviewed and suspended for some time on September 12, 1727.