FI0640 – Reports on Discretionary Spending for Senior-level Administrators
To comply with TCA 49-14-104, and to provide oversight for discretionary expenditures made by or for the President or Chancellors.
- Each campus shall quarterly compile a list of expenditures that are not part of the President’s or Chancellor’s operating budget and:
- benefit them in some manner or
- were incurred by them or
- they directed the expenditure to be incurred
- The list must include expenditures from any university funds, foundation funds, athletic department funds, sponsorship fees, licensing revenues and royalty funds.
- The list should include a separate line for each expense and include the date of the expense, the source of funds, the name of the university account charged, the vendor and/or description of the expense and the amount.
- The campuses will send their list to the Office of the Chief Financial Officer or designee, who will submit a comprehensive list to the audit committee annually.
Luke Lybrand 865-974-2302 email@example.com
Related Policies: BT0028 – Discretionary Expenditure Reporting for the President and Chancellors