The University shall prepare and maintain such financial records and reports in accordance with generally accepted principles and standards of accounting and financial reporting for colleges and universities as are necessary for sound financial management and adequate disclosure. Each year the University shall file with the Board of Trustees a copy of the annual financial report.
A copy of the audit by the Auditor General shall be filed with the Board of Trustees and shall be acknowledged by the Board as the official audit of such funds
The Board of Trustees shall obtain and carry a blanket crime policy which extends protection to the financial assets of the University and the Board.
Employees receiving payment of wages and benefits from non-appropriated funds, including but not limited to revenue bond operations, shall be treated on an equal basis with employees receiving payment of wages and benefits from appropriated funds.
In the event of a conflict between the provisions of the Board of Trustees Governing Document and the requirements of specific bond resolutions adopted by the Board of Trustees, the latter shall govern.
adopted: 05/09/1997
