A revision to University Policy 601.8, Appropriate Use of University Funds, was approved by the Chancellor in May 2017. The following is what you need to know:
- Defined terms within the policy have been clarified.
Updates have been incorporated to reflect recent revisions of the North Carolina State Budget Manual.
Five standards have been developed to address specific uses of University funds, such as meals and entertainment; conferences and events; marketing and development; gifts, awards, and other payments; and student-oriented activities. (The guidance in these standards was previously included within Policy 601.8 itself.)
The “Allowable Fund Usage” table has been updated for quick reference. Please use this table in conjunction with the policy and standards.
Please refer to the “Contacts for Fund Use Guidance” in Appendix 1 (p. 32) of the Financial Management Guidelines for specific questions about the use of various fund types.
Please email firstname.lastname@example.org if you have any questions about the recent revisions.