Minutes of the Board of Regents of Stephen F. Austin State University. 1997, Volume No. 149

              Stephen F. Austin
State University
Minutes of the
Board of Regents
Austin, Texas
January 28,1997
Volume 149
TABLE OF CONTENTS
Page
97-24 Approval of Minutes of September 28,1996 1
97-25 Faculty and Staff Appointments for 1996-97 1
97-26 Leaves of Absence 2
97-27 Retirements 3
97-28 UnderenroUed Class Report for Fall, 1996 3
97-29 Underenrolled Class Report for Spring, 1997 4
97-30 Twelfth Class Day Report 4
97-31 Last Class Day Report 4
97-32 Top Ten Percent Scholarship Program Expansion 5
97-33 Intercollegiate Athletic Policy and Procedure Manual 5
97-34 Resolution Concerning the University Center at Longview 5
97-35 Resolution Concerning Downward Expansion of the University of
Texas at Tyler 5
97-36 Ratification of Purchase of Securities 5
97-37 Purchase of Replacement Vehicles and Backhoe 5
97-38 Approval of Policies: Return to Work, Reporting Fiscal Misconduct,
Travel Approval, Travel Reimbursement, and Investments 5
97-39 Review of 1996-97 HEAF Project for Computer Graphics Laboratory 5
97-40 Ag Pond Shoreline Improvements, Phase Two 6
97-41 Roofing Project for Nursing and Math Building 6
97-42 Sale of House on Baker Street 6
97-43 Renovation of Axe Handle Dining Room ......6
Reports
A. Chair, Faculty Senate
B. Student Government Association
C. Vice President for University Advancement
D. President
Appendix No. 1 - Securities with Maturity Dates in Excess of Five Years
Appendix No. 2 - Return to Work Policy
Appendix No. 3 - Reporting Fiscal Misconduct Policy
Appendix No. 4 - Travel Request Policy Revision
Appendix No. 5 - Travel Reimbursement Policy Revision
Appendix No. 6 - Investments Policy Revision
Appendix No. 7 - Budget Changes Less Than $50,000
MINUTES OF THE MEETING
BOARD OF REGENTS
STEPHEN F. AUSTIN STATE UNIVERSITY
Austin, Texas
January 28, 1997
The meeting was called to order at 9:12 a.m. by Chair Ron AdMson. Board members
present: R. A. Brookshiie, Pattye Greer, Retta Kelley, Lynn Montes, Jimmy Murphy, and
Murray Shaw. Absent: Sissy Austin and Dionne Bagsby.
Others present: Dan Angel, Janelle Ashley, Jerry Holbert, Baker Pattillo, Roland Smith,
Yvette dark and other SFA staff members.
97-24
Upon motion of Regent Brookshire, seconded by Regent Kelley, with all members voting
aye, it was ordered that the minutes of September 28,1996 be approved.
97-25
Upon motion of Regent Murphy, seconded by Regent Shaw, with all members voting aye, it was
ordered that the following appointments be approved.
1. Elementary Education
Ms.Vikki Boatman, Instructor, (M.Ed., Stephen F. Austin State University),
at a salary of $29,500 for nine months, effective fall semester, 1996.
Ms. Vi Alexander, Assistant Professor, (M.S., University of Texas), at a
salary of $31,000 for nine months, effective fall semester, 1996.
2. Secondary Education & Educational Administration
Dr. Patrick M. Jenlink, Professor (Ed.D., Oklahoma State University), at a
salary of $77,000 for twelve months, effective December 1,1996.
Dr. Dwain Estes, Professor (Ed.D., University of Texas), at a salary of
$52,000 for eight months, effective spring semester, 1997.
Dr. Mark D. Myers, Assistant Professor (Ph.D., Indiana State University), at
a salary of $35,000 for nine months, effective fall semester, 1996.
3. University Affairs
Mr. John A. Pearce, Head Football Coach, at a salary of $84,127 for twelve
months, effective February 1,1997.
Mr. Eddie Blister, Assistant Coach and Instructor of Kinesiology, at a salary
of $50,270 for 10.5 months, effective February 1,1997.
Mr. Eugene Chizik, Jr., Assistant Coach and Instructor of Kinesiology, at a
salary of $50,274 for 10.5 months, effective February 1,1997.
Mr. Denzil Cox, Assistant Coach and Instructor of Kinesiology, at a salary of
$45,099 for 10.5 months, effective February 1, 1997.
Mr. Charles Davis, Assistant Coach and Instructor of Kinesiology, at a salary
of $36,399 for 10.5 months, effective February 1,1997.
Mr. Robert McFarland, Assistant Coach and Instructor of Kinesiology, at a
salary of $44,255 for 10.5 months, effective February 1,1997.
Mr. Arlington Nunn, Assistant Coach and Instructor of Kinesiology, at a
salary of $39,491 for 10.5 months, effective February 1,1997.
Mr. Dion Lampe, Track Coach and Instructor of Kinesiology, at a salary of
$34,000 for 9 months, effective January 6,1997.
4. President's Office
Mr. Roy Blake, Governmental Relations, at a salary of $18,000 for 5 months,
effective January 2,1997.
97-26
Upon motion of Regent Shaw, seconded by Regent Montes, with all members voting aye,
it was ordered that the following leaves of absence be approved.
1. General Business
Dr. Libbyrose Clark has been on leave of absence for medical reasons since
October 8,1996. She has requested an extension of the leave without pay (as
all sick leave and an additional allocation of sick leave from the sick leave pool
have been exhausted) for the spring semester, 1997.
2. Kinesiology and Health Sciences
Ms. Elizabeth R. Rhodes received a Fulbright Scholar Award to teach dance
in Panama City, Panama effective August 1996 to June 1997. The new
perspectives and international connections will benefit not only her, but her
colleagues and students.
97-27
Upon motion of Regent Montes, seconded by Regent Shaw, with all members voting aye, it was
ordered that the following retirements be accepted.
1. Elementary Education
Dr. Robert F. Smith, Professor, effective December 31,1996.
Dr. Beverly Young, Professor, effective December 31,1996.
2. Forestry
Dr. Kent T. Adair, Professor, effective January 31,1997.
Dr. Wm. T. McGrath, Associate Professor, effective December 31,1996.
3. Mathematics and Statistics
Mr. Joseph T. Robbins, Assistant Professor, effective May 21,1997.
4. Political Science and Geography
Mr. Charles Gardner, Assistant Professor, effective December 31,1996.
97-28
Upon motion of Regent Montes, seconded by Regent Murphy, with all members voting aye, it was
ordered that the following underenrolled classes be approved for Fall, 1996:
1. CJS 414.020 - Appeals & Briefs
Enrollment 5
Required for graduation
2. CSC 565.001 - Comp Arch & Par Proc
Enrollment 4
To maintain proper course sequence
3. ENG 099.009 - Developmental English
Enrollment 5
Comply with TASP requirement
4. ENG 445.001 - American Literature: Realism
Enrollment 8
5 Seniors, required for teaching field
5. GEO 234.001 - Problems in Conservation
Enrollment 6
Required for graduation
6. GER 231.001 - Intermediate German
Enrollment 8
Maintain proper course sequence
7. GER 309.001 - Advanced German Conversation
Enrollment 7
Required for graduation
8. GER 132.001 - Elementary German
Enrollment 9
Maintain proper course sequence
9. GOL 132.001 - General Geology H
Enrollment 5
Students cannot take course at alternate time
10. HIS 320.000 - Modern East Asia
Enrollment 9
Required for graduation
11. NUR 415.003 - Leadership in Nursing Systems
Enrollment 9
Maintain sequence in group and course
12. PHY 108.003 - Intro to Engineering/Physics
Enrollment 7
New distance learning pilot program
13. PSC 445.001 - Policy Analysis
Enrollment 8
Required for graduation
14. THR 560.001 - Dramatic Theory/Criticism/Hist
Enrollment 4
Maintain proper course sequence
97-29
Upon motion of Regent Montes, seconded by Regent Shaw, with all members voting aye, it was
ordered that the Chairman of the Board be authorized to sign the official Underenrolled Class
Report for Spring, 1997 when the data is available.
97-30
Upon motion of Regent Montes, seconded by Regent Shaw, with all members voting aye, it was
ordered that the Chairman of the Board be authorized to approve the Twelfth Class Day Report for
the Spring semester, 1997.
97-31
Upon motion of Regent Montes, seconded by Regent Shaw, with all members voting aye, it was
ordered that the Last Class Day Report for the Fall semester, 1996, be approved as presented.
97-32
Upon motion of Regent Greer, seconded by Regent Kelley, with all members voting aye, it was
ordered that the Top Ten Percent Program be expanded to include students with a class rank
through the 80th percentile effective Fall, 1997.
97-33
Upon motion of Regent Murphy, seconded by Regent Shaw, with all members voting aye,
it was ordered that the Stephen F. Austin State University Department of Intercollegiate
Athletics Policy and Procedure Manual be approved.
97-34
Upon motion of Regent Murphy, seconded by Regent Kelley, with all members voting aye, it was
ordered that the resolution concerning the University Center at Longview be approved as
presented.
97-35
Upon motion of Regent Murphy, seconded by Regent Shaw, with all members voting aye, it was
ordered that the resolution concerning downward expansion of the University of Texas at Tyler be
approved as presented.
97-36
Upon motion of Regent Montes, seconded by Regent Kelley, with all members voting aye,
it was ordered that the Board of Regents ratify the purchase of securities as presented in
Appendix No. 1.
97-37
Upon motion of Regent Murphy, seconded by Regent Shaw, with all members voting aye,
it was ordered that the Physical Plant Department be authorized to purchase replacement
vehicles and a backhoe and that the President be authorized to sign the necessary purchase
orders, so long as costs remain with the approved HEAF budget. It was further ordered
that the University participation in the Ford Motor Credit governmental lease-purchase
program be approved through January, 1998.
97-38
Upon motion of Regent Montes, seconded by Regent Shaw, with all members voting aye,
it was ordered that the Return to Work and Reporting Fiscal Misconduct Policies be
adopted and approved, and that the Travel Request, Travel Reimbursement, and
Investments Policies be approved as amended.
97-39
Upon motion of Regent Greer, seconded by Regent Kelley, with all members
voting aye, it was ordered that the President be authorized to sign the required
purchase orders for a new Computer Graphics Laboratory for the Department of
Art at a cost not to exceed $235,000.
97-40
Upon motion of Regent Brookshire, seconded by Regent Murphy, with all members voting
aye, it was ordered that that the Physical Plant Department be authorized to complete the Ag
Pond Project, subject to the available budget of $65,000.
97-41
Upon motion of Regent Brookshire, seconded by Regent Shaw, with all members voting
aye, it was ordered that approval be given to the Physical Plant Department to hire an
architect to develop specifications and obtain bids to replace the roof of the Nursing and
Math Building. Bids will be brought to the Board for approval at the April, 1997 meeting.
97-42
Upon motion of Regent Brookshire, seconded by Regent Murphy, with all members voting
aye, it was ordered that approval be given to sell the house located at 1601 Baker Street,
Nacogdoches, Texas, to Jerry Wood (the only bidder) for the sum of $2,107. The bidder
is responsible for all costs of moving the house and insuring the move.
97-43
Upon motion of Regent Murphy, seconded by Regent Shaw, with all members voting aye,
it was ordered that the renovations to the Axe Handle Dining Room be approved and that
the President be authorized to bid and sign contracts and purchase orders for the project as
long as the cost does not exceed $500,000.
VH. REPORTS
A. Faculty Senate
B . Student Government Association
C, Vice President for University Advancement
D. President
Meeting adjourned at 9:45 a.m.
STEPHEN F. AUSTIN STATE UNIVERSITY
SECURITIES WITH MATURITY DATES IN EXCESS OF FIVE YEARS
JANUARY 6, 1997
Appendix No. 1
Appendix No. 2
1 Return to Work
2 Original Implementation: January 28, 1997
3 Last Revision: None
4
5 It is the policy of Stephen F. Austin State University to provide a return to work
6 program as the means to return employees to meaningful, productive employment
7 following injury or illness. To provide the highest level of quality service to the
8 citizens of Texas, the necessity exists for every employee of the University to be
9 available for work, ready, and capable of performing the duties and responsibilities for
10 which the employee was hired.
ll
12 The return to work program may provide opportunities for any employee of Stephen F.
13 Austin State University who sustains a compensable injury during the course and scope
14 of employment, a disability as defined by the Americans with Disabilities Act, and/or a
15 serious health condition as defined by the Family Medical Leave Act, to return to work
16 at full duty. If the employee is not physically capable of returning to full duty, the
17 return to work program may provide opportunities, when available, for the employee to
18 perform a temporary assignment in which the employee's regular position is modified
19 to accommodate the employee's physical capacities, or to perform duty at an alternate
20 position. Each case will be evaluated on an individual basis according to the limitations
21 of each employee as documented by a physician and the job responsibilities of the
22 position. The physician's documentation must be provided on the University's
23 Attending Doctor's Return to Work Recommendations Form including a thorough
24 assessment of the employee's specifications considering their official job description.
25 A copy of the job description must be provided to the physician and can be obtained
26 from the Director of Personnel. Failure to provide the appropriate documentation for
27 light or medium duty return to work conditions may be grounds, among others, for
28 denial of light or medium duty assignments. Light duty is limited to a specific time
29 frame and may not exceed 12 weeks before being upgraded to medium work, then on
30 to regular work. The University will request a release from the employee for direct
31 communication with the physician regarding those matters that directly relate to return
32 to work assessments. The University reserves the right to properly assess and verify
33 the employee's physical capabilities as they relate to the job.
34
35 This return to work program shall not be construed as recognition by Stephen F. Austin
36 State University, its management, or its employees that any employee who participates
37 in the program has a disability as defined by the Americans with Disabilities Act of
38 1990. If an employee sustains an illness or injury that results in a disability under the
39 ADA, it is the employee's responsibility to inform the supervisor or a person in a
40 responsible management position that a disability under the ADA exists and that a
41 reasonable accommodation will be necessary to perform the essential functions of the
42 position held. Confirmation of the disability by a licensed physician or other
43 appropriate medical provider as determined by the University is required. Such
44 documentation my be assessed or verified by the University. Reasonable
1 accommodations may be granted in conjunction with the physician's assessment of the
2 employee's capabilities as it relates to the job and the University's needs.
3
4 As each situation arises the case will be evaluated independently by the supervisor,
5 head of department, Claims Coordinator (4514), Personnel Director (2304), the
6 physician, and other administrators as necessary. Timely contact of individuals cited in
7 their respective areas of responsibility is required to provide the employee with prompt
8 care and justifiable accommodations. If possible, a modified offer of employment will
9 be proposed. The offer of employment form is to be used for this purpose.
10
11
12
13 Source of Authority: Office of the Attorney General
14 Cross Reference: None
15 Contact for Revision: Risk Management Committee
16 Forms: Offer of Employment
17
ATTENDING DOCTOR'S RETURN TO WORK RECOMMENDATIONS
'ATIENTS NAME (FIRST, (MIOOLE INITIAL) (LAST)
REPORTED INJURY/ILLNESS:
DATE OF INCIDENT: CLAIM #
DIAGNOSIS:
Examined and treated this patient on
1 f|Recommend this patient return to vwork with no limitations on
at AM or PM and:
21 |Patient may return to wonV capable of performlfigth^
DEGREE UMTTATIONS
jsedentarywork. Lifting 10 pounds maximum and occasionally
lifting and/or carrying such articles as dockets, ledgers and
small toots. Although a sedentary ]ob is defined as one which
involves sitting, a certain amount of walking and standing is
often necessary in carrying out job duties. Jobs are sedentary
if walking and standing are required only occasionally and other
sedentary criteria are met.
JughtWork, Lifting 20 pounds maximum with frequent lifting
and/or carrying of objects weighing up to 10 pounds. Even
though the weight Iffiedfiiay be cmly a negW^
is in this category when it requires walking or standing to a
significant degree or when It involves sitting most of the time
with a degree of pushing and puiUng of arm and/or tog controls.
_JRegular Work, Lifting 100 pounds maximum with frequent
lifting and/or carrying of objects weighing up to 50 pounds.
(or fulfilling normal duties as per job description)
hours
hours
1. In an 8 hour day a patient may:
a. Stand/Walk
r*"*l"one |~| 1^3 hours F |4-€ hours | |8 hours
b.SJt
£]i-3hours | labours
c. Drive
£]i-3 hours | J4-6 hours
2. Patient may NOT use hands for repetitive:
[^Single Grasping [^Pushing & Pulling
| |Hn« Manipulation
3. Patient is able to:
Frequently Occasionally Not Al All
a. Bend...
b. Squat...
c. Climb...
Other instructions and/or limitations/medications:
te restrictions are in effect until reevaluation on
4 [^Patient is totally incapacitated at this time.
Patient will be ^evaluated on
AMorPM.
AMorPM.
DOCTOR18 SIGNATURE: DATS:
JPLEASE COMPLETE AND RETURN TO UNIVERSITY SAFETY, PO BOX 6113, NACOGDOCHES TX 75962
|FAX COPY OK DAY OF VISIT TO; UNIVERSITY SAFETY (409) 468-4446 THAKK YOU,
1
2
3
4
5
6
7 OFFER OF EMPLOYMENT
8
9 Dear
10
11 The SFA Workers' Compensation Division is in receipt of medical information from your treating
12 physician, , outlining the restrictions under which you are able to return to work.
13 The , Department will abide by the physical limitations as outlined by your
14 physician. In accordance with Rule 129.5 of the Texas Workers' Compensation Commission, the
15 following information is provided to you for consideration as a Bona Fide Offer of Employment.
16
17 Position Title:
18
19 Expected Duration of the Offered Position:
20
21 Hours of Duty:
22
23 Wages: Same as before injury
24
25 Job Description/Work Requirement:
26
27
28 ~ ~"
29
3Q — -
31 Position is on the SFA campus and includes State buildings.' The location is approximately mile(s)
32 from the employee's residence.
33
34 Should you have any questions, please contact the undersigned below.
35
36 Sincerely,
37
38
39
40 Signature
41 Title
42
43
44
45 Employee:
46
47 I nave read and understand the requirements of the position and accept the position.
48
49 I have read and understand the requirements of the position but do not accept the position.
50
51
52
53 Signature Date
Appendix No. 3
1 Reporting Fiscal Misconduct
2 Original Implementation: January 28, 1997
3 Last Revision: None
4
5
6 Introduction
7 This policy establishes procedures and responsibilities for reporting and resolving
8 instances of known or suspected fiscal misconduct. The intent of the policy is to protect
9 the assets and interests of the University, prescribe a coordinated approach toward
10 investigation and resolution of fiscal misconduct and outline specific responsibilities for
11 individuals responding to the investigation of a fiscal misconduct event.
12
13 Definitions
14 University - Stephen F. Austin State University and all of its components, regardless of the
15 source of funding.
16
17 Employee - All personnel employed by the University, including faculty, staf£ and
18 students.
19
20 Fiscal Misconduct - Defalcation, misappropriation, and other fiscal irregularities, including
21 but not limited to:
22
23 dishonest, illegal, or fraudulent acts involving University property;
24
25 forgery or alteration of checks, drafts, promissory notes, and securities;
26
27 forgery or unauthorized alteration by employees of employee benefit or salary-
28 related items such as time sheets, payroll documents, billings, claims, surrenders,
29 assignments, or changes in beneficiary;
30
31 forgery or unauthorized alteration by employees of student-related items such as
32 grades, transcripts, loans, fees, financial aid applications, financial aid records;
33
34 misappropriation of funds, securities, supplies, or any other asset of the University;
35
36 illegal or fraudulent handling or reporting of money transactions;
37
38 employee acceptance or solicitation of any gift, favor, or service that might
39 reasonably tend to influence the employee in the discharge of his or her official
40 duties;
41
42 destruction or disappearance of records, furniture, fixtures, or equipment where
43 theft is suspected.
44
45
1 Suspected Fiscal Misconduct - A reasonable belief or actual knowledge that fiscal
2 misconduct has or is occurring. Failure to show an actual diversion of assets or loss shall
3 not be considered unreasonable belief.
4
5 Policy and Procedure
6 Any employee of the University who knows of or suspects fiscal misconduct must
7 promptly notify his or her immediate supervisor and/or one of the following investigative
8 units: the Department of Audit Services, the Office of General Counsel, the University
9 Police Department or the Personnel Department. The University Police Department or
10 Office of General Counsel are the preferred primary contacts. The unit contacted shall
11 contact the remaining three units as appropriate to establish the necessary investigative
12 team and procedures.
13
14 All affected departments and/or individuals shall cooperate fully with the investigative
15 team to identify whether or not actual fiscal misconduct has occurred.
16
17 The investigative team shall update University administration of the progress of all
18 investigations. The scope of and individuals subject to investigations are to be considered
19 in determining the extent and nature of notification.
20
21 The results of all investigations will be reported to the President of the University.
22
23 Management is responsible for establishing and maintaining a system of internal control
24 that provides reasonable assurance that improprieties are prevented and detected. Each
25 manager should be familiar with the types of improprieties that might occur in his or her
26 area and be alert for any indication that such a defalcation, misappropriation, or other
27 fiscal irregularity has occurred.
28
29 Management will support the University's fiduciary responsibilities and will cooperate
30 with law enforcement agencies in the detection, investigation, and reporting of criminal
31 acts, including prosecution of offenders. Every effort should be made to recover
32 University losses.
33
34 The Office of Audit Services will supervise all audits of allegations of defalcation,
35 misappropriation, and other fiscal irregularities. When an audit reveals suspected criminal
36 activity, or an audit is initiated due to an allegation of criminal activity, the University
37 Police will be notified immediately and the audit will proceed under their direction.
38
39 When an audit involves allegations or reveals suspected criminal activity which may
40 constitute a felony offense, the Chief of Police shall, when appropriate, immediately notify
41 the President or his designee. The Director of Audit Services shall keep the University
42 Police informed regarding the progress of the audit.
43
44
45
1 The University Police, Office of Audit Services, and Office of the General Counsel will
2 coordinate assistance provided to State, Federal, and local law enforcement agencies in
3 connection with felony fraud investigations. All requests for information and/or assistance
4 from such agencies, received by any other component of the University, shall be
5 immediately forwarded to the University Police for determination and handling. All
6 reasonable assistance will be given to law enforcement agencies when requested.
7
8 All requests for information and assistance related to investigations conducted by auditors
9 of federal and state agencies, which are concerned with potential dishonest or fraudulent
10 activities within the University, shall be forwarded immediately to the Director of Audit
11 Services for consultation with the Office of General Counsel.
12
13 In order to avoid the use of investigative techniques that might prevent evidence from
14 being used in a criminal prosecution, University Police will coordinate the criminal
15 investigation once probable criminal activity has been detected. The Office of Audit
16 Services shall assist the University Police in investigations of suspected defalcation,
17 misappropriation, and other fiscal irregularities that require accounting and auditing
18 knowledge of University records.
19
20 In order to protect the reputations of innocent persons initially suspected of wrongful
21 conduct and to protect the University from potential civil liability, the results of
22 investigations and attendant audits will not be disclosed or discussed with anyone other
23 than authorized representatives of law enforcement and/or regulatory agencies and only
24 those persons associated with the University who have a legitimate need to know such
25 results in order to perform their duties and responsibilities, subject to provisions of the
26 Texas Open Records Act.
27
28 Investigations and Attendant Audits
29 Audits revealing violations of the Penal Code for which an audit report will be issued shall
30 be reduced to final report form only after consultation by University Police with the local
31 prosecutor or the Office of General Counsel to ensure that appropriate documentation of
32 the facts has been achieved in order to permit appropriate personnel action, protect
33 innocent persons, support appropriate civil or criminal actions, document claims made
34 pursuant to applicable fidelity bonds, preserve the integrity of criminal investigation and
35 prosecution and avoid unnecessary litigation.
36
37 Great care must be taken in the investigation of suspected improprieties or irregularities to
38 avoid incorrect accusations or alerting suspected individuals that an investigation or audit
39 is underway and also to avoid making statements which could provide a basis for a lawsuit
40 for false accusation or other offense. The reporting individual should:
41
42 not contact the suspected individual to determine facts or demand restitution;
43
1 not discuss the facts, suspicions, or allegations associated with the case with
2 anyone, unless specifically directed to do so by the Office of Audit Services,
3 University Police, or Office of the General Counsel.
4
5 All inquiries from the suspected individual, their representative or their attorney shall be
6 directed to the Office of General Counsel without further comment.
7
8 All reproduction of documents, evidence, and reports shall be performed within the
9 secured work area of the University Police or Office of Audit Services. Any requests to
10 release or review such documents will be coordinated through the Office of the General
11 Counsel.
12
13 To the extent permitted by the applicable provisions of the Texas Open Records Act,
14 confidentiality of those reporting dishonest or fraudulent activities will be maintained.
15 However, the confidentiality cannot be maintained if that individual is required to serve as
16 a witness in legal proceedings.
17
18 When an audit initiated due to an allegation of criminal activity has failed to detect
19 criminal activity or when advised by the Office of General Counsel, the Director of Audit
20 Services has the discretion to stop the audit. The Office of University Police retains
21 authority to review the progress of criminal investigations and to determine whether to
22 pursue a criminal prosecution.
23
24
25 Audit Findings
26 Each investigation of possible dishonest or fraudulent activities has the potential to
27 provide valuable insight into University activities. Investigations may disclose control
28 weaknesses or other deficiencies that require additional auditing or attention by
29 management. The Office of Audit Services shall consider the nature and extent of the
30 investigation and complete any additional audit work necessary to provide management
31 with information for appropriate action.
32
33 Source of Authority: Board of Regents
34 Cross Reference: None
35 Contact for Revision: Vice President for Business Affairs
36 Forms: None
37
38
39
40
41
42
43
44
45
Appendix No. 4
TRAVEL REQUEST C-37
Original Implementation: Unpublished September 1, 1988
Last Revision: September 1, 1988 January 28, 1997
State employees and others authorized to travel on official business of the University
(employees) An employee who travels on behalf of or for the benefit of the University
must obtain permission to do so in advance of the trip by submitting a Travel Request
form, whether or not expenses will be incurred. Members of the Board of Regents are
exempt from the Travel Request requirement
This policy applies to employees traveling in any capacity unrelated to intercollegiate
athletics. All policies, rules, and regulations related to travel on behalf of or in
connection with intercollegiate athletics are included in the current issue of the
Intercollegiate Athletics Policy Manual
An American Express Corporate Card system is available for eligible travelers of the
University who wish to charge travel expenses. Applications and further information
concerning this program are available in the Business Manager's Office Controller's
Office Austin Building, Room 211.
Advance travel funds may be requested with the Travel Request form for persons not
eligible for the corporate card, for team and group travel, and for travel with particularly
unusual circumstances (must be specified). The minimum amount of advance funds which
can be obtained is $100. If advance funds are required, the request should be received by
the University Business Offioe Controller's Office at least five (5) working days prior to
departure. Generally, the requested funds will be available at the University Business
Office within two (2) days at least one working day prior to departure. Advance travel
funds will be issued by a check made payable to the individual requesting the funds.
Persons eligible for the corporate card who choose not to apply will not roooivo
advance travel funds. The Travel Request shaB must be initiated and approved
authorized at the departmental level.
For academic departments, the request must be approved by the appropriate dean and
forwarded to the Vice President for Academic Affairs for final approval. For
administrative staff) the Travel Request must be approved through appropriate
administrative channels. Following approval, the Vice President for Business Affairs must
sign the request before routing it // must then be sent to the appropriate vice president or
President for final approval. After final approval, the request will must be routed to the
University Business Controller's Office.
Before traveling to Washington, D. C, an employee shall inform the Office of State-
Federal Relations about the timing and purpose of the trip and provide the office with the
name of a person who may be contacted for additional information about the trip. A
form, Report for Stage Agency Travel to Washington, D. C, is available to meet this
requirement.
Before traveling to any foreign country other than Canada or Mexico, an employee shall
obtain advance written approval of the University's President and the Governor. Refer
to Policy C-14 for the approval requirements and to The State of Texas Travel Allowance
Guide for exceptions to the reimbursement limits.
SOURCE OF AUTHORITY: Vice President for Business Affairs
CROSS REFERENCE: Policy C-14, State of Texas Travel Allowance Guide
CONTACT FOR REVISION: University Business Manager Controller
FORMS: Travel Request (available in University Printing Services) and Report for State
Agency Travel to Washington, D. C.
Appendix No. 5
TRAVEL VOUCHER REIMBURSEMENT C-38
Original Implementation: Unpublished September, 1990
Last Revision: September, 1990 January 28, 1997
General Information
State employees and others authorized to travel on official business of the University
(employees) must complete a Travel Request (See Policy C-37)for approval in advance
of the actual travel If the travel expenses are to be reimbursed by the University, they
should be listed on the Travel Request. Members of the Board of Regents are exempt
from the Travel Request requirement. Employees must travel economically and
efficiently to conserve the University's financial resources. Travel expenditures should
occur at the lowest possible levels, considering all relevant circumstances. Each
employee requesting reimbursement should submit a State of Texas Travel Voucher fef
reimbursement after completion of the travel.
The State Comptroller's Office publishes, usually at the conclusion of a legislative session,
The State of Texas Travel Allowance Guide to assist state employees in the completion of
travel vouchers. A current copy is provided to each department by the Controller's
Office.
The travel regulations contained in this policy apply to all University funds unless
otherwise noted This policy does not apply to travel related to intercollegiate athletics.
All policies, rules, and regulations for travel on behalf of or in connection with
intercollegiate athletics are included in the current issue of the Intercollegiate Athletics
Policy Manual.
The per diem allowance for expenses incurred in official travel is subject to
the following conditions and limitations:
Reimbursement Rates - Lodging
The actual lodging receipt is required/or reimbursement. If the actual lodging receipt is
lost, a copy of the receipt or a credit card receipt will be accepted as proof of payment.
Receipt must be attached to the Travel Voucher.
4r In-State
Employees may be reimbursed for the actual cost of lodging not to exceed fifty-five
dollars ($55) per day and the local taxes only on the allowable lodging cost.
and tho actual cost of meals not to exceed twenty five dollars ($25) por day.
2t Out-of-State
Employees traveling within the continental United States reooivo a may be
reimbursed for the actual cost of lodging not to exceed the locality-based
allowance for meals and lodging that location as established in the Federal Travel
Regulations Guide. They may be reimbursed for the applicable taxes only on
the allowable lodging costs. Employees traveling to localities not listed in the
Federal Travel Regulations receive the lowest flat rate established in that state for
meals and lodging. If the actual cost of lodging exceeds a travel locality fs
lodging allowance, an employee may reduce the maximum meal reimbursement
rate for that locality and use the reduction to increase the maximum lodging
reimbursement rate for that locality.
Reimbursement Rates - Meals
Employees may be reimbursed for meal expenditures while away from campus only if the
travel requires them to be at least 25 miles from the locality of the University for at least
six (6) consecutive hours. Food and/or beverage expenditures for other than meals are
not reimbursable. Funds appropriated by the General Appropriations Act may not be
used to purchase or reimburse an employee for the purchase of an alcoholic beverage.
Appropriate business entertainment expenses involving meals may be reimbursed
pursuant to the food purchases policy, Policy C-I3, and are exempt from the distance
and time requirements.
In State
An employee must bo away from headquarters at loast six consecutive hours to bo
reimbursed for any meal. The meal allowance is divided as follows: Meals are
reimbursed at the lower of actual cost or the following meal allowances:
Receipts are not required for meal reimbursements but reimbursement is
available only if the employee purchases and consumes a meal in accord with the
distance and time standards. Meals included as part of a registration or
conference fee or which are pur chased for the employee are not reimbursable
under this provision of the policy. Employees required to travel away from the
campus on official business not requiring an overnight stay may be entitled to the
stated meal allowance if the distance traveled (one-way) is at least twenty-five
miles and the time away from campus is at least six consecutive hours.
Out of State
Employees may be reimbursed for the actual cost of meals not to exceed the
locality-based allowance for that location as established in the Federal Travel
Regulations Guide. If the travel is to a locality not listed in the federal
regulations, employees will receive the lowest flat rate established in that state for
meals.
Reimbursement Rates - Mileage
Reimbursement for use of The transportation allowance for m University employee's
employee's personal vehicle is 25 oents per mile calculated at the rate specified in the
current State of Texas Travel Allowance Guide. Mileage is based on the shortest highway
distance, including the use of all farm-to-market roads, and must be itemized on a point-to-
point basis. Mileage is determined by the Official State Mileage Guide published by the
Statistical Research Service.
Group Travel - Lodging
Group travel occurs if two or more employees travel together to the same location
Employees sharing lodging may consolidate or separate lodging claims. In cases of
shared lodging, the Travel Voucher must clearly indicate by name the other employee(s)
sharing the room. The total reimbursement for lodging cannot exceed the lesser of the
actual lodging charge or an amount equal to the number of employees in the group times
the individual lodging rate established in this policy.
Travel at Actual Expenses
If the President is unable to attend a meeting or conference, the President may designate,
on an individual trip basis, one employee as a representative to travel on an actual-expense
status. Under this provision, the allowance rates for lodging and meals specified
by this policy do not apply. The Travel Voucher for reimbursement of these claims must
be accompanied by originals of the designating document and paid receipts for which
reimbursement is requested.
Student Travel
No state-appropriated funds may be used to pay or reimburse travel expenses for
students. All other provisions of this policy apply to student travel. (See Group Travel
section) If the number of students in the group exceeds twenty, the name of the group
may be substituted for the list of names.
Commercial Travel
Employees who travel by commercial airline should use their individual corporate
American Express card to charge their airline ticket. See Policy C-1.1 for the
appropriate procedure if the flight must be boohed ten or more days in advance to obtain
the lowest fare.
Incidental Expenses
Reimbursement for official business expenses other than transportation, meals, or
lodging, e.g., ground transportation, telephone calls, copy services, etc., may be
requested if original receipts are attached to the approved Travel Voucher. The
following are not reimbursable: expenses of a personal nature; expenses that would be
incurred by the employee regardless of official state business travel; and tips and
gratuities.
Registration Fees
Registration cost for attendance at a professional meeting is reimbursable if the original
receipt is attached to the approved Travel Voucher.
Reimbursement Limits
The cost limits established by this policy may be exceeded only iff unds are available in
and the additional costs are charged to a discretionary account controlled by the budget
manager authorizing the additional expenditure. For this policy, discretionary funds
shall be defined as specified accounts established for appropriate officials for the sole
purpose of discretionary use.
Note: Tho groon shoot of tho "State of Toxas Travol Voucher" is tho first of tho throo page
form and should carry original signatures.
SOURCE OF AUTHORITY: Comptroller, State of Texas; Vice President for Business
Affairs
CROSS REFERENCE: Policy C-l.l, Policy C-13, Policy C-37, and The State of Texas
Travel Allowance Guide - A copy of the current State of Texas Travel Allowance Guide
is distributed by the University Business Manager's Controller's Office to each
department. The travel guide provides comprehensive information on travel procedures
and the proper classification of travel related expenditures. Questions regarding the
preparation of travel vouchers should be directed to the University Business Manager's
Controller's office.
CONTACT FOR REVISION: University Business Manager Controller
FORMS: State of Texas Travel Voucher
Appendix No. 6
INVESTMENTS
Original Implementation: April 30, 1996
Last Revision: January 28, 1997
1.0 POLICY STATEMENT
Stephen F. Austin State University invests the public funds in its custody with
primary emphasis on the preservation and safety of the principal amount of the investment.
Secondarily, investments must be of sufficient liquidity to meet the day to day cash
requirements of the University. Finally, the University invests to maximize yield within the
two previously-indicated standards. All investments within this policy conform to all
applicable State statutes and local rules governing the investment of public funds. This
policy is promulgated in accord with the Public Funds Livestment Act (Government Code,
Chapter 2256), related portions of the Texas Education Code, and the applicable portions
of H. B. 2459, 74th Texas Legislature.
2.0 SCOPE
This policy establishes rules for the investment of all University and agency funds
except endowment funds. Endowment funds are invested in accordance with separate
policy approved by the Board of Regents and are the responsibility of fund managers
selected by the Board of Regents.
3.0 OBJECTIVES
3.1 The foremost objective of all investment decisions shall be safety of
principal. All investments must be undertaken with the fiduciary responsibility
associated with that of a reasonable and prudent person. Investments must be in
accord with Texas law. Investment maturity must be diversified to match the
University's liquidity requirements.
3.2 Investments shall incur no unreasonable risk in order to maximize potential
income.
3.3 Investments shall remain sufficiently liquid to meet all reasonably
anticipated operating requirements.
3.4 Investments shall be diversified in order to minimize any risk inherent in the
purchase of multiple securities of the same type or within the same financial
institution.
3.5 No investments within the portfolio or investment practices conducted to
effect investment activities shall violate the terms of this policy.
4.0 AUTHORIZED INVESTMENTS
4.1 All University funds and funds held in trust for others may be invested only
in the following securities:
4.1.1 obligations of the United States of America, its agencies and
instrumentalities;
4.1.2 direct obligations of the State of Texas or its agencies and
instrumentalities;
4.1.3 collateralized mortgage obligations directly issued by a federal
agency or instrumentality of the United States of America, the
underlying security for which is guaranteed by an agency or
instrumentality of the United States of America;
4.1.4 other obligations, the principal of and interest on, which are
unconditionally guaranteed or insured by, or backed by the full faith
and credit o£ the State of Texas or the United States of America or
their agencies and instrumentalities;
4.1.5 obligations of states, agencies, counties, cities, and other political
subdivisions of any state rated as to investment quality by a
nationally recognized investment rating firm of not less that A or its
equivalent;
4.1.6 certificates of deposit issued by a state or national bank or savings
and loan association domiciled in Texas that is:
4.1.6.1 guaranteed or insured by the Federal Deposit Insurance
Corporation;
4.1.6.2 fully collateralized by obligations described in Section 4.1.1
through Section 4.1.5, including mortgage backed securities
directly issued by a federal agency or instrumentality that have a
market value of not less than the principal amount of the
certificates, but excluding those mortgage backed securities
of the following nature:
4.1.6.2.1 obligations whose payment represents the
coupon payments on the outstanding
principal balance of the underlying
mortgaged-backed security collateral and
pays no principal;
4.1.6.2.2 obligations whose payment represents the
principal stream of cash flow from the
underlying mortgage-backed security
collateral and bears no interest;
4.1.6.2.3 collateralized mortgage obligations that have
a stated final maturity date of greater than 10
years; and
4.1.6.2.4 collateralized mortgage obligations the
interest rate of which is determined by an
index that adjusts opposite to the changes in
a market index.
4.1.7 fully collateralized repurchase agreements with a definite
termination date, secured by obligations described by
Section 4.1.6, requiring the securities being purchased by
the entity to be pledged to the entity, held in the entity's
name, and deposited at the time the investment is made with
the entity or with a third party selected and approved by the
entity; and placed through a primary government
securities dealer, as defined by the Federal Reserve, or a
financial institution doing business in this state;
4.1.8 bankers acceptances having a stated maturity of 270 days
or fewer from the date of issuance, to be liquidated in full at
maturity, eligible for collateral for borrowing from a Federal
Reserve bank, and accepted by a bank organized and
existing under the laws of the United States of America or
any state, if the short-term obligations of the bank, or of a
bank holding company of which the bank is the largest
subsidiary, are rated not less than A-l or P-l or an
equivalent rating by at least one nationally recognized credit
rating agency;
4.1.9 commercial paper that has a stated maturity of 270 days or
fewer from the date of its issuance, and is rated not less than
A-1 or P-1 or an equivalent rating by at least two nationally
recognized credit rating agencies or one nationally
recognized credit rating agency and is fully secured by an
irrevocable letter of credit issued by a bank organized and
existing under the laws of the United States of America or
any state;
4.1.10 no-load money market mutual funds regulated by the
Securities and Exchange Commission, having a dollar-weighted
average stated maturity of 90 days or fewer, and including in their
investment objectives the maintenance of a stable net asset value of
$1 for each share;
4.1.11 guaranteed investment contracts conforming to Section
2256.015 of the Government Code;
4.1.12 investment pools conforming to Section 2256.016 of the
Government Code;
4.1.13 cash management and fixed income funds sponsored by
organizations exempt from federal income taxation under Section
501(f), Internal Revenue Code of 1986 (26 U.S.C. Section 501(f));
5.0 INSURANCE OR COLLATERAL
5.1 All deposits and investments of University funds other than direct purchase
of United States Treasury securities or United States Agency securities and
in money market funds invested in U. S. Treasury or Agency securities
shall be secured by a pledge of collateral with a market value equal to no
less than 100% of the deposits or investments less any amount insured by
the FDIC or FSLIC and pursuant to Article 2529d, the Public Funds
Collateral Act. Evidence of the pledged collateral shall be maintained by
the University Controller. Eligible repurchase agreements shall be
documented by a specific agreement noting the collateral pledged in each
agreement. Collateral shall be reviewed monthly to assure the market value
of the securities pledged equals or exceeds the related bank balances.
5.2 Pledged collateral shall be maintained for safekeeping by a third party
depository.
6.0 COLLATERAL DEFINED
6.1 The University shall accept only the following securities as
collateral:
6.1.1 FDIC and FSLIC insurance coverage;
6.1.2 United States Treasury, Agency, or Instrumentality
securities;
6.1.3 Other obligations, the principal of and interest on which are
unconditionally guaranteed or insured by the State of Texas or the
United States of America;
6.1.4 Obligations of states, agencies thereof counties, cities, and
other political subdivisions of any state having been rated as to
investment quality by a nationally recognized investment rating firm
and having received a rating of no less than A or its equivalent
7.0 INVESTMENT STRATEGY
All investments will be made in accordance with the University's
Investment Policy. Investments will be diversified among a variety of
investment vehicles as specified in Section 13. Protection of the portfolio's
principal is of primary concern; however, it is recognized that unrealized
losses will occur in a rising interest rate environment, just as unrealized
gains will occur during periods of falling interest rates.
Investments may be categorized and described as:
7.1 Short Term - less than 90 days
Funds needed to meet short term operating requirements normally
will be invested in the Texpool investment vehicle managed by the
State Treasurer. This pool allows funds to be liquidated on a daily,
if necessary, basis. Interest rates in Texpool change daily. The
benchmark is the average three month Treasury Bill yield.
7.2 Intermediate Term - 90 days to one year
United States Treasury and Agency securities, United States
Agency Discount Notes, and Texpool are the primary investment
vehicles. United States Agency Discount Notes are preferable
because of the ease with which they are traded, and their return is
comparable to other United States Agency Securities and are
usually higher in yield than United States Treasury securities and
Texpool. Texpool is preferred when short term interest rates are
low and there is no significant earnings advantage to using other
investment vehicles. The benchmark is 95 percent of the average
one-year Treasury Bill yield.
7.3 Long Term - over one year
United States Treasury and Agency securities are the primary
investment vehicles. Normally, investments are laddered so that
most principal is returned over a five year period in increments
sufficient to meet anticipated operating and capital needs. The
Lehman Government/Corporate Bond Index is the benchmark for
long term funds.
7.4 Maturity
The length of time for investments within this policy will vary
according to fond type and will be dependent on funding
requirements. As a general rule, funds will be invested for the time
periods indicated:
Current Unrestricted and
Restricted Funds 2 days to one year
Plant Funds 3 months to 3 years
8.0 DELEGATION OF AUTHORITY
The Vice President for Business Affairs (VPBA) of Stephen F. Austin State
University is responsible for investment management decisions and activities. The
VPBA delegates the day-to-day management of the investment activities to the
Director of Financial Services.
The VPBA shall be ultimately responsible for all transactions undertaken and shall
establish a system of controls (Appendix A) to regulate the activities of officials
and staff involved in investment transactions.
The VPBA shall develop and maintain written administrative procedures and
guidelines for the operation of the investment program which are consistent with
and part of this Investment Policy (Appendix B).
The VPBA shall be designated as the University's investment officer and is
responsible for the duties outlined herein. The name and title of the investment
officer shall be filed with the Board of Regents. Changes of name and/or title must
be filed with the Board of Regents as they occur.
Decisions requiring security purchases with stated maturity in excess of five (5)
years will require approval of the Board of Rogents and the VPBA and ratification
by the Board of Regents.
No officer or designee may engage in an investment transaction except as provided
under terms of this policy as approved by the Stephen F. Austin State University
Board of Regents.
9.0 PRUDENCE
9.1 The c<pradent person" standard will be used in the investment function and
shall be applied in the context of individual transactions as well as management of
the overall portfolio. Accordingly, all investments shall be made with judgment
and care, under circumstances then prevailing, which persons of prudence,
discretion, and intelligence exercise in the management of their own affairs, not for
speculation, but for investment, considering the probable safety of their capital as
well as the expected income to be derived.
10.0 INTERNAL CONTROLS
Stephen F. Austin State University has established a system of written internal
controls designed to prevent loss of public funds due to fraud, employee error,
misrepresentation by third parties, unanticipated market changes, or imprudent
actions by employees of the University. These controls are shown in Appendix A
of this Investment Policy. These controls are subject to the review of and
recommendations from the University's Department of Audit Services office.
11.0 AUTHORIZED INVESTMENTS
The VPBA shall invest only those funds regulated by this policy and shall purchase
only those securities authorized by Section 4.0 of this policy.
12.0 AUTHORIZED FINANCIAL DEALERS AND INSTTTUnONS
12.1 Transactions (bids and offers) will require competitive bidding by at least
three Board authorized broker/dealers who have fulfilled all compliance
requirements of the Board. Exceptions to this rule require written justification and
Board approval.
12.2 A written copy of the then current investment policy shall be presented
to any individual seeking to sell an authorized investment to Stephen F. Austin
State University. The registered principal of the organization seeking to sell an
authorized investment shall execute a written instrument substantially to the effect
that the registered principal has (a) received and thoroughly reviewed the
investment policy of the University and (b) acknowledges that the organization has
implemented reasonable procedures and controls in an effort to preclude imprudent
investment activities arising out of investment transactions conducted between the
University and the organization.
12.3 Securities may not be bought from any organization whose representative
has not provided the University with the acknowledgment required in Section
12.2.
13. DIVERSIFICATION
Investments shall be diversified to minimize the risk of loss resulting from
unauthorized concentration of assets in a specific maturity, specific issuer, or
specific class of securities. The diversification limits by security type and issuer
shall be:
Category Maximum
U. S. Treasury securities and securities having
principal and interest guaranteed by the
U. S. Government 100%
U. S. Government agencies, instrumentalities
and government sponsored enterprises
(excluding mortgage backed securities) 50%
Mortgage backed securities 25%
Fully insured or coUateralized certificates of deposit 30%
Bankers' acceptances 25%
Commercial paper 25%
Repurchase agreements 100%
Registered money market funds 100% 80%
Local Government Investment Pool 100%
The VPBA and his or her designee shall diversify investment maturity. To the
extent possible, investment maturity will be matched with anticipated cash flow
requirements. Matching maturity and cash flow requirements will minimize
occasions for sale of securities prior to maturity, thereby reducing market risk.
However, no provision of this policy shall be interpreted as prohibiting the sale of
any security prior to maturity, provided that it is in the University's financial
interest to effect the sale.
The weighted average maturity of the entire portfolio shall be maintained at no
more than tfaee^ve years and shall be reported in quarterly reports to the Board
of Regents. Pooled fund groups eligible for University investment shall have a
maximum average dollar-weighted maturity of no more than five years.
14.0 SAFEKEEPING AND COLLATERALIZATION
14.1 All securities transactions, including collateral for repurchase agreements,
shall be conducted on a delivery versus payment basis. All securities shall be held
by a third party custodian in the name of the University. The third party custodian
shall be required to issue a safekeeping receipt to the University listing the specific
instrument, rate, maturity, safekeeping receipt number, and other pertinent
information. Any collateral safekeeping receipt shall be clearly marked on its face
that the security is "pledged to Stephen F. Austin State University5'.
14.2 COLLATERALIZATION shall be required on certificates of deposit and
repurchase agreements. The COLLATERALIZATION level shall be no less than
100% of the market value of the principal and interest due on these instruments.
14.3 Collateral for certificates of deposit and repurchase agreements shall
consist of any of the securities authorized for investment within this policy.
15.0 PERFORMANCE EVALUATION
The VPBA shall submit quarterly reports to the Board of Regents through its
Finance Committee and the President of the University in the format prescribed by
the Public Funds Investment Act, within a reasonable time after the end of the
quarter.
The reports must
(a) describe in detail the investment position of the University on the date of
the report;
(b) be prepared by the investment officers) of the University;
(c) be signed by the investment officers) of the University;
(d) contain a summary statement of each pooled fund group that states the
(1) beginning market value for the reporting period;
(2) additions and changes to the market value during the period; and
(3) ending market value for the period;
(e) state the book value and market value of each separately invested asset at
the beginning and end of the reporting period by the type of asset and fund
type invested;
(f) state the maturity date of each separately invested asset that has a maturity
date;
(g) state the account or fund or pooled group fond for which each individual
investment was acquired; and
(h) state the compliance of the investment portfolio of the University as it
relates to:
(1) the relevant provisions of the Public Funds Investment Act.
16.0 TRAINING
The VPBA and Director of Financial Services are required by Section 2256.007(a)
of the Government Code to attend at least one session of investment training not
later than March 1, 1996, and, as appropriate, periodically thereafter.
17.0 Auorrs
The University's Department of Audit Services office shall conduct annual
compliance audits of management controls on investments and adherence to the
University's investment policy and report the results to the President and VPBA and the
State Auditor's Office.
18.0 INVESTMENT POLICY ADOPTION AND CERTIFICATION
Upon adoption by the Stephen F. Austin State University Board of Regents, the
University's investment policy shall be reviewed annually to ensure current
applicability and significant modifications thereto submitted to the Board of
Regents for approval.
Source of Authority: Board of Regents, Stephen F. Austin State University
Cross Reference: None
Contact for Revision: Vice President for Business Affairs
Forms: None
10
APPENDIX A
INTERNAL CONTROLS
The University has prepared an Investment Policy as of April 12, 1996. The policy
was approved by the Board of Regents April 30, 1996.
The Investment Policy will be reviewed and/or updated no less than annually.
All pledged securities shall be held by a third party custodian in the name of the
University. A safekeeping receipt will be issued to the University listing the
specific instrument, rate, maturity, safekeeping receipt number, and other relevant
information.
The signature of the President, VPBA, or Director of Financial Services is required
for release of pledged securities from safekeeping.
The investment subsidiary ledger will be reconciled monthly to the Financial
Report, General Ledger, Texpool statements, and other broker/dealer
statements. The Controller's office will record investment income monthly. The
Controller will review the entries monthly.
All wire transfers, check transfers, or other bank items are transmitted to the bank
by someone other than the person preparing them
All purchases of securities from and deposits of funds to or withdrawals of funds
from Texpool require the signature of the VPBA, and either the Director of
Financial Services or aad the Controller.
11
APPENDIX B
ADMINISTRATIVE PROCEDURES
The Director of Financial Services will monitor investments and cash balances
held in depository bank accounts on a weekly basis.
The Controller will provide cash flow projections and will monitor and report cash
requirements to the Director of Financial Services. Such needs will be initially
determined at the beginning of the fiscal year and will be modified, as necessary,
throughout the year.
The Director of Financial Services will review the level of investments, cash
balances, and cash requirements and make necessary adjustments in the investment
allocations and bank balances.
All investment transaction and cash transfer confirmations will be prepared by the
Director of Financial Services and approved by the Vice President of Business
Aflairs. The related banking transactions will be made by the Controller.
The Controller will maintain a subsidiary investment ledger for reconciliation to the
monthly financial report, Texpool statements, and other broker/dealer
statements. These reports are to be reconciled monthly.
Quarterly investment reports are prepared by the Director of Financial Services
and approved by the Vice President of Business Affairs in accordance with Section
15 of this investment policy.
12
Appendix No. 7
STEPHEN F. AUSTIN STATE UNIVERSITY
SCHEDULE OF TRANSFERS
September 1, 1996 through December 31, 1996
ACTIVITY RECIPIENT TRANSFER SOURCE