Policy 5     Expenditure Control


Section 5.1          Expenditure Introduction

The University of North Georgia Foundation, Inc. (UNGF) exists in order to support the University of North Georgia and its mission.  Private philanthropic support depends, in part; upon the confidence donors have in the UNGF’s commitment to sound fiduciary management of funds, to include expenses.

All expenditures of donor gift monies from the UNGF shall be spent mindfully and with respect for the donor’s wishes and intents. 
 

Generally, all expenditures must:

  1. Be reasonable and benefit the University;
  2. Be consistent with the donor’s intent for the gift;
  3. Not jeopardize UNGF’s tax-exempt status;
  4. Comply with all applicable statutes and regulations.

All disbursements must have written justification detailing the business purpose suitable for auditing purposes and must not be:

  1. For political or charitable contributions, fines or penalties;
  2. For the personal benefit of the payee;
  3. For lavish or excessive entertainment.


A Fund Administrator is responsible for approving expenditures from each fund to ensure the authenticity and appropriateness of the expenditure, compliance with the donor fund agreement, and adherence to Foundation policies. 

Fund Administrators include the President, Vice Presidents, Deans, or Directors of a particular unit.  Fund Administrators may request to delegate his/her signature authority to another employee in that unit, when appropriate (i.e. business manager).  A Signature Authority Form (see Appendix) must be completed and approved by the Foundation office in order to delegate signature authority.

If a Fund Administrator is requesting reimbursement for him/herself, the request should be forwarded to the next level of authority for approval.  As example, Deans should forward reimbursements to the Provost for approval and Vice Presidents should forward reimbursements to the President for approval.  Direct reimbursements to the President of the University shall be approved by the Foundation Chair and/or Vice Chairman.

A Check and Reimbursement Request Form (see Appendix) must be completed for all Foundation payments.  Original invoices and receipts must be promptly submitted as supporting documentation.  The Foundation processes checks once a week.  Requests received by 5:00pm every Tuesday will be processed within the same week, provided all documentation is submitted.  All requests will be approved by a UNGF Officer (CEO or COO) prior to being processed.