Policy 5     Expenditure Control


Section 5.7          General Policy Regarding Expenditures

The following general policies apply in considering the appropriateness of Foundation expenditures:

  • The Foundation does not allow cash advances.
  • Gift cards and gift certificates are unallowable, as the IRS considers them as cash equivalent. 
  • Donations or payments to other non-profit entities are unallowable, unless it supports the philanthropic mission of the UNG Foundation. 
  • All student awards and scholarships must be disbursed through Student Financial Aid.  The Foundation cannot disburse award and scholarship checks directly to students because of tax reporting purposes.
  • Foundation funds may not be used to purchase raffle items.
  • For equipment purchases of $5,000 or less, Foundation funds may be used.  For purchases in excess of $5,000, purchases of equipment must be made through the University Business Office in accordance with its rules and procedures.  Transfer of funds may be made from the Foundation to the University for such purchases.  State bidding rules must be followed.
  • The Foundation is not exempt from state sales/use taxes.  All invoices and receipts must show that such taxes have been paid.
  • Receipts must be submitted promptly for reimbursement, generally within 45 days.
  • No contracts, purchase orders, or other documents may be signed on behalf of UNGF except by a UNGF officer (CEO or COO).
  • An IRS Form W-9 must be submitted for each new vendor before payments may be processed.
  • The Foundation’s expenditure policy allows expenses that have a supportable business purpose and do not result in the personal benefit to any individual or UNG employee.  If it is determined that a UNG employee has derived personal benefit from an expenditure of the Foundation, that information will be reported to the UNG Payroll Department and may be included in the employee’s taxable income reported on their W-2.