Policies

The University desires to establish a liquidity management policy that documents its liquidity management practices.

Investment guidelines have been established for the University to issue Real Estate Loans to the University of Virginia Foundation in order to achieve a level of independent financial strength for the Foundation to pursue its objectives in serving the University.

To promote safety in response to the serious safety concerns brought to light by the National Highway Traffic Safety Administration’s Research Note of April 2001 entitled, “The Rollover Propensity of Fifteen-Passenger Vans” and the Commonwealth of Virginia, Division of Risk Management’s advisory of 7/20/01.

The University of Virginia is committed to recruiting and retaining high quality personnel by providing competitive benefits and compensation. In some instances, this may include providing equitable moving and relocation assistance to cover personal moving, relocation, and employment expenses. Additionally, the policy assists the University in complying with applicable Internal Revenue Service regulations regarding the tax treatment of moving and relocation expenses provided on behalf of employees.

The University is committed to complying with federal, state and local tax regulations; this policy identifies the University Units responsible for tax compliance and delineates their scope of responsibility.

This policy establishes the University’s standards on financial reporting and defines the responsibilities of University, Medical Center, and College at Wise personnel related to accounting standards. To provide our external constituents with reliable and accurate financial statements, the University must follow generally accepted accounting principles (GAAP) and comply with related federal, state, and local regulations.

The University is committed to: (1) enhancing successful business relationships between small, minority-owned, women-owned, and otherwise disadvantaged business enterprises (S/M/W/DBEs) and through the implementation of programs that will require a consistent and high level of participation from all University schools and departments; and (2) actively seeking goods and services from small, minority-owned, and women-owned businesses in support of the Commonwealth’s small, minority-owned, and women-owned (SWaM) program.

This policy sets forth the authority to sign a contract with outside persons and entities on behalf of the University of Virginia as delegated by the Board of Visitors.

To formalize the practices of the University’s Debt Management Program.

This policy sets forth the requirements for establishing and managing University revenue generating activities and the rates that can be assessed: 1) to students as a condition of their enrollment; 2) by internal service providers; and 3) as nuisance charges to prevent abuse of services. This policy is necessary so that the assessed rates reflect actual costs and are consistently applied.

The University is committed to complying with established federal regulations applicable to cost sharing on Sponsored Programs. To facilitate compliance, the University has established requirements on proposing and managing cost sharing on sponsored programs consistent with the requirements established by the Office of Management and Budget in the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, 2CFR 200 (Uniform Guidance).

This policy sets forth institutional expectations for the deposit of University funds received as credits or reimbursements that were originally charged as expenditures.

This policy is intended to: 1) Outline the University’s philosophy on derivatives; 2) Provide guidelines on the use of derivatives; 3) Identify approved derivative instruments; and 4) Establish a control framework related to the use of derivatives.

To provide reliable and predictable endowment distributions and a fee for administering the endowment by the University, its schools, and units.

This policy addresses the specific accounting, control, and reporting requirements associated with equipment acquired for use on sponsored programs. The requirements and responsibilities identified supplement the general requirements stipulated in University policy FIN-034: Accounting Requirements for Equipment Assets.

In accepting a sponsored program, the University assumes the responsibility for fulfilling the institutional, sponsoring agency, Federal, and State requirements. These requirements may be specifically contained in the agreement or they may be incorporated by reference to guidelines issued by the sponsor in special publications or directives.

The Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (2 CFR 200) allows compensation for personal services (i.e., salary, wages, and associated fringe benefit costs) to be charged against sponsored programs only to the extent that such compensation conforms to established and consistently applied policies and is for work in direct performance of the sponsored program.

This policy has been established to inform University employees of their individual obligation and responsibility to comply with the Commonwealth of Virginia’s conflict of interest requirements on behalf of the University as well as The Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Specifically, this policy addresses those instances in which there is a real or perceived conflict between an employee’s professional duties and personal interest (which may include the interest of a family member).

Establishes the authority to approve individual quasi-endowment transactions.

The University of Virginia recognizes the critical importance of international travel by faculty and staff for University-related purposes in the areas of education, research, and service. In order to adequately support the health, safety, and security of University employees traveling internationally on University-related business, the University is implementing a requirement to register the itineraries and contact information for all international travel by University faculty and staff.