The Audit and Finance Committee of the Board of Control will review, as part of the review of the audited financial statements, all non-mandatory transfers in excess of $500,000 that have not been approved as part of the annual operating budget. Non-mandatory transfers from $25,000 to $200,000 shall be approved by the Treasurer, and non-mandatory transfers above $200,000 shall be approved by both the Treasurer and the President of the University.
| History | ||
| 07/16/93 | ||
| 09/24/93 | added retirement reserve accounts restriction | |
| 07/21/95 | clarified approval process | |
| 09/24/99 | changed approval to review by the Finance Committee of the Board and all non-mandatory transfer above $200,000 shall be approved by the Treasurer and President | |
| 07/15/2010 | Was previously Policy 13.23. Renumber and corrected committee title to "Audit and Finance" to correlate with Policy 1.15. | |
| 02/24/2011 | Deleted Board approval for all transfers in and out of R&I Fund. |