FI0640 – Reports on Discretionary Spending for Senior-level Administrators

FI0640 – Reports on Discretionary Spending for Senior-level Administrators

Topics:

General Policy	Contact
Procedures

Objective:

To comply with TCA 49-14-104, and to provide oversight for discretionary expenditures made by or for the President or Chancellors.

Policy:

General Policy  

1. Each campus shall quarterly compile a list of expenditures that are not part of the President’s or Chancellor’s operating budget and:
   1. benefit them in some manner or
   2. were incurred by them or
   3. they directed the expenditure to be incurred
2. The list must include expenditures from any university funds, foundation funds, athletic department funds, sponsorship fees, licensing revenues and royalty funds.
3. 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.
4. 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.

Contact  

Luke Lybrand   865-974-2302   llybrand@tennessee.edu

Related Policies: BT0028 – Discretionary Expenditure Reporting for the President and Chancellors