Policy section:
Section 7900-7999 Miscellaneous
Policy number:
7904
Subject:
Disbursements Made as Exceptions to Policy
Group:
Institutional
Approved By:
The Finance and Administration Committee of the Board of Regents
Approved date:
June 27, 2001
Effective date:
July 1, 2001
Revised:
November 29, 2005
Administered by:
Vice-President (Administration)
1 — PURPOSE
The purpose of this policy is to provide for an annual report to the Finance and Administration Committee of the Board of Regents on all disbursements of funds made as exceptions to University policy or standard practices.
2 — REPORT FROM THE CONTROLLER
The Controller shall report annually to the Finance and Administration Committee of the Board of Regents on disbursements, exceeding the amount used by the University’s auditors to determine reportable errors, authorized by a senior official of the University, which were made in exception to University policies or standard practices. The report shall include the details of the disbursements including the names of the persons requesting them, the reasons for the requests, and the names of the authorizing officials.