FI0105 – General Statement on University Fiscal Policy

FI0105 – General Statement on University Fiscal Policy

Topics:

Applicability	Campus or Institute Procedures and Departmental Procedures
Developing and Issuing Policy	Contact Information
Exceptions To Policy	Procedures

Objective:

To provide University of Tennessee employees with basic policies and procedures related to the university’s fiscal operations.

Policy:

Applicability

1. These policies and procedures generally apply to all campuses and institutes of the university. The statewide university system consists of individual campuses and institutes and the university-wide Administration (UWA) located in Knoxville. The campuses are UT Knoxville, UT Chattanooga, UT Martin, and the Health Science Center in Memphis. The institutes are the Institute of Agriculture, Institute for Public Service, UT Space Institute.

Developing and Issuing Policy

2. Fiscal policy is developed, revised, and issued in response to changes in internal policy as well as state and federal laws and regulations. The Chief Financial Officer is responsible for revising and maintaining policy. Updates and revisions are issued by the university’s chief financial officer.

Exceptions to Policy

3. The university’s Chief Financial Officer (or designee) is authorized to make exceptions to fiscal policy.
   1. If a campus declaration of emergency as outlined in SA0200 Emergency Management is issued, the chief business officer may issue an exception to fiscal policy when it is necessary to ensure life safety, stabilize the incident, or promote significant property conservation.  This action must be followed by the most expedient means available.

Campus or Institute Procedures and Departmental Procedures

4. The campus or institute chief business officer is responsible for developing procedures specific to the campus or institute to accompany and supplement individual fiscal policies.
5. Departments are responsible for developing written procedures for routine accounting and other functions and updating them as needed. Such procedures help ensure that departmental functions are performed correctly and assist in training new employees. All personnel with fiscal responsibilities should review their written procedures to ensure they conform to fiscal policy.

Contact Information

6. For more information on university fiscal policy, contact the Office of the Chief Financial Officer, 711 Andy Holt Tower, The University of Tennessee, Knoxville, TN 37996-0174, (865) 974-1763. For more information on campus or institute supplementary procedures or other policy questions, contact the contact the campus or institute business office, or the Treasurer’s Office. 

Contact:

Catherine Lane (865) 974-3245 ccolocot@tennessee.edu