POL-U5352.07 Requesting Funds From Federal Agencies
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Dates and Approval
Effective Date:
December 5, 2001
Revised Date:
November 15, 2006
Approved by:
President’s Council
Who does this policy apply to?
This policy applies to all university employees that manage federal grants.
Overview
There is no overview for this policy.Definitions
There are no definitions for this policy.
Policy Statements
1. Vice President and Assistant Vice President for Business and Financial Affairs Establish Letter of Credit Accounts
The Vice President and Assistant Vice President for Business and Financial Affairs are authorized to establish Letters of Credit, accounts for reimbursement, and the method of reimbursement with the Federal government or its agencies. This permission may NOT be delegated.
2. Vice President for Business and Financial Affairs Requests Funds
The Vice President for Business and Financial Affairs ensures that funds are requested appropriately:
- Fund requests are based on actual expenditures.
- Funds will be requested when unreimbursed expenditures exceed $25,000 or at least monthly.
- Any funds received and not spent within three days must be returned immediately.
3. Vice President for Business and Financial Affairs Monitors Federal Regulations for Cash Management Compliance
With respect to cash management, the Vice President for Business and Financial Affairs ensures that the policy is reviewed for continued compliance with Federal regulations and recommends changes as necessary.