Spending must follow the donor's intent. There must be strict compliance with the donor's intent in the MOA.
Spending documentation should clearly
indicate how the expenditures meet the donor's intent.
There should be some due diligence involved, such as checking the
student's GPA, major, etc.
All University policies and procedures apply.
Use Purchasing when dollar value necessitates.
Expenses must be for a business purpose, not for personal gain.
Donor relations expenses can be paid directly with an ISU Foundation
voucher, if donor confidentiality is necessary.
There is increased flexibility in using university 497 accounts
now to allow for alcohol, flowers, etc.
Prudent use applies.
The public release of expenditure information is governed by
the Code of Iowa. Questions regarding public record requests can be
referred to the Controller or University Legal Counsel.