Financial Services Policy 7.10 – Policy for Use of Discretionary Funds

Discretionary funds are non-state unrestricted funds arising from unrestricted gifts and investment income. These funds are available to the Chancellor for administrative and service functions not met from other funding sources. These funds are available to supplement other resources. This policy also applies to non-operating departmental accounts funded by unrestricted gifts. The following statements define the framework within which discretionary expenditures are to be made:

Expenditures from Discretionary Funds shall only be made for University purposes, and not for personal use or personal enrichment.

Discretionary funds are discretionary as to use, not process. University purchasing policies and procedures shall be followed in making expenditures from discretionary funds. Also, appropriate documentation shall be provided to support discretionary expenditures.

Discretionary expenditures may be made to support those representing the University at events in an official capacity, including the Chancellor’s spouse. This may include travel and other related expenses.

Discretionary expenditures may be made to support events for building or enhancing campus community and for building relationships and providing services on behalf of UNCG. This may include receptions, mealtime gatherings, dedications, and other events in which the University representation and/or sponsorship are consistent with its mission and expectations.

Discretionary expenditures may be made for educational and general University expenses that could be appropriately met from other fund sources, where funding from other sources is insufficient.

Discretionary expenditures may also be made for administrative expenses not appropriately met from other fund sources. This may include travel to meetings and conferences, business meals, and awards. Discretionary expenditures may also be made for expressions of congratulations and sympathy in an official capacity.

If there is a question as to whether an anticipated discretionary expenditure in in conformity with this policy, please contact Randy Bennett, University Controller at rwbennet@uncg.edu or at 334-5795 for clarification.