Business & Finance News Center

  • Policy Update: Section 11 Gifts and Endowments

    Jun 4, 2026 1:30 pmAccounting and BudgetingBuying and ContractsEquipment ManagementFY 26Payments to the UniversityPolicies and ProceduresTravel

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    • Renewals of $1,000,000 or more for commodities, general services and/or professional and artistic services including sole sources require Board of Trustees aproval. Requisitions need to be submitted to Purchasing in adequate time to obtain the necessary BOT approvals by January 17, 2025. Last FY25 BOT mtg. Date is May 22,2025

    The Business & Finance Policy Office announces evaluation updates to 11 Gifts and Endowments.

    Highlights include:

    • New policy 11.5 Gift-in-Kind
    • Revising policies to the new policy format
    • Updating policy content for accuracy, consistency, and grammar

    Contact
    For questions about this policy, please contact the Business & Finance Policy Office at BusFinPolicyOffice@uillinois.edu. 

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