1704 Loans to Affiliates

Document purpose

Certain circumstances require that the University extend loans to outside parties. This policy relates to outside parties other than University employees.

effective

December 1986

revised

May 2006

Reviewed

July 2020

Responsible Office

Treasurer

Approval

Trustees

The Policy

  1. The authority to extend loans to outside parties rests with the Trustees.

  2. All loans to affiliates must be approved by the V.P. for Finance and Treasurer.

  3. All loans to affiliates granted in excess of $100,000 require the prior approval of the V.P. for Finance and Treasurer.

  4. All loans to affiliates granted in excess of $250,000 require the prior approval of the Trustees.

  5. All loans made to outside parties will be report annually to the Budget and Finance Committee.