In this Open Comment: Section 8 - Determine the Allowability of Specific Expenditures
Campus administrative and other units are requesting policy and procedures that would authorize the University to make sponsorship payments and financial assistance awards to outside entities under certain circumstances. Current policy addresses gifts, donations, fundraising, and membership payments, but does not cover sponsorships or grants of University funds to outside entities. We are adding a new language to Section 8 - Determine the Allowability of Specific Expenditures that will clarify the circumstances in which these payments will be permissible.
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Read the policy, below...
Financial Assistance and Sponsorship Payments to Outside Organizations
University funds may be expended in support of joint initiatives between the University and non-University entities only when the funds are used for public purposes and the supported initiative promotes or advances one or more of the University's missions. If University funds will be provided to non-University entities to support such initiatives, a written agreement, signed by each party's authorized signatory, must be entered into by the University and the non-University entity/entities outlining the terms of the transaction and describing the initiative and how it aligns with one or more of the University's missions. Approvals from appropriate administrative offices may be required prior to signing the agreement. Refer to Section 2.3 - Initiation, Review, and Approval of University Contracts and Leases for instructions on requesting a financial assistance award or sponsorship agreement.
After the agreement is fully executed, the unit processes the payment and includes the contract number in the payment request in TEM using account code 186550.
Allowability/Funding: When allowable, must be funded from only institutional, gift, endowment income, or self-supporting funds (when directly related to generation of the fund's revenue).
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