49-14-104 - Quarterly reports Legislative intent. - Tennessee Statutes

49-14-104. Quarterly reports Legislative intent.

The board of regents created under chapter 8, part 2 of this title and the University of Tennessee board of trustees created under chapter 9, part 2 of this title shall establish a policy for quarterly reports by their respective system president or chancellor, and presidents or chancellors detailing expenditures made by, at the direction of or for the benefit of the chancellor or president. It is the legislative intent that the policy require the report of discretionary expenditures, which shall include, but not be limited to, unrestricted gifts, foundation funds, athletic funds, sponsorship fees, licenses and royalty funds and other such funds that would not be included in the operating budget for the chancellor's or the president's office. Chancellors or presidents shall not have the authority to grant themselves an exception to fiscal, spending or travel policies established by the board or by statute.

[Acts 2004, ch. 904, § 4.]