Gifts or Awards in Excess of $5,000 Policy - Northern Michigan University

Purpose:

The purpose of this policy is to document the Board requirement for specific approval of gifts or awards in excess of $5000. 

Applicability:

All Faculty and staff.

Policy:

Expenditures in excess of $5,000 for gifts or awards will be made only if approved in advance by the Executive Committee of the Board of Trustees. (Approved by the Board of Control on December 13, 1991.)