Discretionary Use of University Funds (C-64))
Original Implementation: April 23, 2013
Last Revision: None
Stephen F. Austin State University receives funds from a variety of sources, including state appropriations, tuition and fees, auxiliary revenues, departmental sales and services, grants, and gifts. Most of the funds received are for specific, limited purposes or are subject to restrictions by the Board of Regents, state and federal legislation, and rules of other oversight agencies. Regardless of type, the university uses all funds in a manner consistent with applicable federal and state laws and regulations, university policies, and other restrictions or designations.
Because of legal or policy restrictions, only specific funds can be used for discretionary purposes. Funds that are allowed for discretionary purchases must be used for a valid business purpose. Examples of valid business purposes include but are not limited to certain types of business meals, administrative planning retreats, and business travel expenditures. Some examples of funds that may be used for discretionary purposes include discretionary donor gifts to departments, undesignated donations, funds from sales and services, and interest earned on certain institutional funds. Examples of university policies that restrict university expenditures to specific funds include, but are not limited to: Gift, Prizes and Awards (C-58), Food Purchases (C-13) and Travel (C-49). The controller’s office website contains guidelines for the discretionary use of university funds.
Cross Reference: Gift, Prizes and Awards (C-58); Food Purchases (C-13); Travel (C-49)
Responsible for Implementation: Vice President for Finance and Administration
Contact for Revision: Controller, Budget Director
Forms: None
Board Committee Assignment: Finance and Audit