University of Arkansas at Little Rock
Policy Name: Allowable Unrestricted Expenses and Reimbursements Using Unrestricted Funds
Policy Number: LR 206.9
Effective Date: May 8, 2013
Revised Dates: –
Most Recent Review Date: –
Policy:
The purpose of this policy is to ensure that all expenditures of private donations and revenue enhance the educational mission of the University of Arkansas at Little Rock.
Unrestricted funds can originate from unrestricted charitable contributions, membership fees, and various sources of auxiliary revenue. Proceeds from the sale of non-cash gifts can also be unrestricted funds. Unrestricted funds, often called discretionary funds, are subject to the stewardship of the Office of Development and are used for the purpose of enhancing the university’s educational mission, goals, and objectives. A donor may make an unrestricted donation to the university, but prescribe at whose discretion (the chancellor, a faculty member, etc.) the funds are to be spent. Such funds are still considered to be unrestricted and are subject to established guidelines and approvals.
Expenditures from all privately funded, discretionary accounts are limited to those that promote the educational mission and objectives of the University of Arkansas at Little Rock and the UA Little Rock Foundation and in no way should create or cause direct or personal benefit to an individual or group.
Questions or concerns regarding reimbursements should be directed to the Director of Compliance and Donor Relations at 501-916-3208.
Source: Initial Policy
Status: Active
Approved By: Chancellor Joel E. Anderson, May 8, 2013
Originator:
Custodian: Office of Development