CHAPTER 7: BUSINESS
AFFAIRS
POLICY 7D.1 Acceptance of Gifts
and Grants to the College
Responsibility
The President is authorized to accept donations and grants
on behalf of the college, other than gifts or grants
of real property. All gifts and grants over $50,000 shall
be reported to the Board of Trustees (see MnSCU Board
policy
7.7). All gifts and grants of real property must be formally
accepted by the Board of Trustees.
All gifts and grants must be recorded in Minnesota State
Colleges and Universities’ financial system.
Each gift or grant must be consistent with the college’s
mission.
The solicitation of donations, the sale of goods, or any
fund-raising activity other than that of the Foundation
on behalf of the college requires prior approval, in writing,
from the President.
Transfer of Gifts
If a gift or bequest as provided in Minnesota Statute
136F.80 and 136F.81 is received by the college and intended
for
the purposes performed by the Foundation approved under
Minnesota Statute 136F.46, the college may transfer
the money to the Foundation, provided the money is used
only
for public purposes.
Accountability/Reporting
No proposal shall be submitted to any funding authority
without the signature of the president or designee.
The college will maintain a list of gifts and grants for
submission each fiscal year to the Office of the Chancellor
to be incorporated into a comprehensive report to the Board
of Trustees.
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History:
| 5/04 |
Adopted to clarify distinction
between gifts to the college vs. gifts to the Foundation;
drew content
from MnSCU Board policy 7.7. Related policies include
Policy 8A.1 Foundations and Policy 8A.2 Sale of Goods & Fund-raising
Activities |
For Minnesota State Colleges and Universities (MnSCU) policies
and procedures, go to www.mnscu.edu/Policies/PolicyIndex.html
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