Community Support Groups, Fiscal Policies
| Policy Administrator:
Vice President for Administration
November 16, 1999
Policy File Number:
FISCAL POLICIES FOR
COMMUNITY SUPPORT GROUPS
Support groups other than recognized auxiliaries that use the name of the University, and that have as their objective the support and enhancement of the University, its people, and its programs are subject to the following minimal procedural requirements that will serve the best interests of the community groups whose support is so important to the University, and the interests of the University and of the Board of Trustees.
These requirements are:
l. Contract for an independent annual audit of finances to be submitted to the University's Vice President for Administration.
2. Within three months of the close of each fiscal year, forward a source and application of funds statement (or an audited financial report) to the University's Vice President for Administration.
3. Carry indemnification bonds or financial loss insurance for all persons who manage or handle funds.
These requirements are applicable to all groups using the name of the University in their operations.