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Policy: VI.A.13

Issued: August 19, 1994

Owner: University Comptroller

Latest Revision:


**INACTIVE POLICY**

For Current Policies:
Policy Table of Contents

 

LOCAL FUND EXPENDITURES

1.0 Purpose

This policy describes the general guidelines for spending and documenting expenditure for local fund accounts so that they may be reimbursed with state funds.

2.0 Policy [Top]

Departments may possess local (non-State: ledgers 4,6, or 8) funds in addition to their State appropriated accounts. Local funds are sometimes used to expedite payments when vendor relations are in jeopardy or to avoid late payment fees (on an exception basis.)

Reimbursements of local fund expenditures from State funds are allowed only under limited circumstances. The IDT process (see also Procedure 6-18), should be used only if the following requirements are met:


Payment Processing

Departments must document local fund expenditures in the following way to show it was paid according to policy:

3.0 Definitions [Top]

4.0 References [Top]

5.0 Approvals and Revisions [Top]


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