PDF Version I. General Purpose. It is the policy of the Board of Trustees to assure that employees of the University of Arkansas and persons or entities contracting with the University of Arkansas abide by laws applicable to them in performing their responsibilities and specifically that they conduct their activities in accordance with applicable law, regulations and policies governing ethical conduct and ethics in public purchasing and contracting. II. Contracts and Grants Prohibited … [Read more...] about 330.1 Employee and Contractor Conflict of Interest

As a part of its charter, the Legal, Legislative, and Audit Committee is responsible for recommending external auditors for various components of the University of Arkansas to the Board of Trustees for approval.   In all matters relating to the audit work during their audit engagement with the University, independent external audit firms should be free from personal, external and organizational impairments, as defined by Government Auditing Standards issued by the Comptroller General of the … [Read more...] about 325.1 External Auditor Independence Requirements

PDF Version I. Policy After making reasonable collection efforts, the University of Arkansas may write off for current accounting purposes and remove from its books of account, in whatever form maintained, any debt due to the University of Arkansas deemed doubtful of collection. The President of the University shall make the determination that any amounts to be treated are in fact doubtful as to ultimate collectability, or under written authorization designate other University officials … [Read more...] about 320.1 Accounting Practice for Reflection of Doubtful Accounts

PDF Version Any banks holding University funds on deposit shall furnish collateral for any deposits exceeding the maximum FDIC Insurance amount and applicable campus policies shall insure compliance with this requirement. The President or Vice President for Finance or Vice President for Administration of the University of Arkansas is authorized: (1)   To open the necessary bank accounts, signify the appropriate signatures and, where required, to sign such other agreements as required by … [Read more...] about 305.1 Bank Depositories and Fiscal Controls

PDF Version I. General Authority The President and the Chief Fiscal Officer are authorized and directed to serve as the contracting officers, fully authorized to execute contracts on behalf of the Board of Trustees, in its name, or on behalf of the University of Arkansas in that name. Any contract shall indicate the particular campus of the University of Arkansas for which the contract is applicable.  Contracts are not to be made in the name of a campus as a contracting party since … [Read more...] about 300.1 Contracting Authority