Effective: Moved to Policy Library from UPM 10.2(1), UPM 10.2(2)
Contact: Controller’s Department
Department chairs are responsible for ensuring that charges to accounts are allowable and appropriate, and in the best interest of the department and the university as a whole. All funds administered by the university are considered public funds, and accordingly, must be expended only for items resulting in public benefit. Public benefit must be apparent on all transactions.
In order for expenditures to be paid from university funds, costs must be allowable, appropriate, and properly documented.
Documentation of hospitality-related costs must also include the names of participants and the participants' relationship to the event. Business meeting meal costs are considered allowable primarily for infrequently occurring functions with an explicit business purpose. Examples of infrequently occurring functions are annual planning retreats, retirement receptions, and guest speaker receptions.
Non-university funds or “agency funds” may NOT be subject to all ISU allowability and appropriateness policies but still must be reasonable with supporting documentation. Agency funds are those within the 206 fund account series. These accounts are established for monies held by ISU that are "owned" by another party.