Chrysostomos L. Nikias
Provost and Senior Vice President, Academic Affairs
Dennis F. Dougherty
Senior Vice President, Finance
October 5, 2005
Page 1 of 1
Borrowing and Lending Funds
This policy outlines the rules required for the borrowing or lending of funds by any
school or department within the university.
No individual, school, or department within the university or its affiliates is authorized to
either borrow from or lend funds to any outside third party entity or to any other school
or department within the university or any of its affiliates or within an individual school
Should the need to borrow or loan funds ever occur, it must be coordinated through the
Office of the Comptroller with final approval by both the Senior Vice President for
Finance as well as the Senior Vice President for Academic Affairs. In some cases,
depending upon the circumstances, the Finance Committee of the Board of Trustees will
make the final decision.
Any requests should include the clearly defined need and reasons for the request and all
terms – including interest rate and term of the transaction. Any approved transactions
must be recorded as either Accounts Receivable or Accounts Payable. They will not be
run through Revenue and Expense.