Repository: UIHistories Project: Board of Trustees Minutes - 1950 [PAGE 1164]

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1156

BOARD OF TRUSTEES

[May 20

Association until the audit of ticket sales for that event is completed. The audit of ticket sales shall be made by the Business Office. SECTION 4. Purchases. All requisitions for materials, supplies, and equipment required by the Association shall be in accordance with the budget or other action of the Board and the Trustees. Such requisitions shall be approved by the Director and Purchase Orders therefor shall be issued by the Business Manager. Purchases in the amount of One Thousand ($1,000.00) Dollars or more shall be approved by the Board or the Executive Committee unless such items have been authorized in the budget, but all such purchases shall be approved by the Business Office before Purchase Orders are written. All purchases shall be on the basis of competitive quotations wherever practicable, quality, suitability, and services considered. Purchases in the amount of less than One Thousand ($1,000.00) Dollars shall be made by the Business Manager after approval of the requisition by the Director. SECTION 5. Payment of Money. All financial obligations shall be evidenced by vouchers prepared by the Association and shall be approved by the Director or by such other person or persons as the Board may indicate. All obligations shall be paid by check, signed by a member designated by the Association, and countersigned by an officer or representative of the Trustees of the University to be designated by the Trustees. SECTION 6. Working Fund. The Business Manager may be allotted a working fund of not more than $10,000, the amount of which shall be determined by the Board. Its purpose shall be the payment of petty and emergency items for which it shall be reimbursed from time to time by regular voucher and check for the Association. . SECTION 7. Accounts. The accounts of the Association shall be kept by the Business Manager in a form approved by the Business Office. Financial reports shall be transmitted by the Association to the Trustees at such times and in such form as the Comptroller may prescribe. A financial statement of the Association shall be published annually. SECTION 8. The Fiscal Year. The fiscal year of the Association shall begin July 1st and end on June 30th, following. SECTION 9. The Board shall determine the price and condition of the sale of coupon books and other tickets of admission to athletic games. Regulations concerning coupon books shall be printed therein. The Board shall also make all regulations governing the issuing of complimentary tickets. SECTION 10. Contracts. All contracts entered into by the Association shall be handled as follows: (a) Contracts for athletic games shall be executed and approved by the Director (unless otherwise directed by the Board), subject to the approval of schedules by the Senate Committee on Athletics. (b) Broadcasting and television contracts shall be approved and executed by the Director, subject to concurrence as to policy by the Director of University Broadcasting. (c) Contracts for concessions, exhibitions, and entertainment shall be approved and executed by the Director, subject to approval by the Comptroller. (d) Contracts for capital additions, replacements, and alterations shall be in accordance with the budget or other action of the Board and the Trustees. Requisitions therefor shall be approved by the Director, and Purchase Orders therefor shall be issued by the Business Manager. Such contracts involving an expenditure of One Thousand ($1,000.00) Dollars or more shall be approved by the Board or the Executive Committee unless such items have been authorized in the budget, but all such contracts shall be approved by the Comptroller of the University before Purchase Orders are written. All such contracts shall be awarded on the basis of competitive quotations wherever practicable and a report thereof shall be made to the Board by the Business Manager. Such contracts involving an expenditure of less than One Thousand ($1,000.00) Dollars shall be made by the Business Manager after approval of the requisition by the Director. (e) Contracts for transportation, ushers, personal and professional services (other than staff service), and other contracts involving less than One Thousand ($1,000.00) Dollars shall be approved and executed by the Business Manager, provided such contracts are covered by the budget.