The Regents’ bylaws and the University’s Standard Practice Guide require that “each gift is accepted subject to the general policy of the Board [of Regents] that the wishes of the donors with respect to their gifts should be loyally observed, so long as in the Board’s opinion, such wishes do not conflict with the proper administration of the University under changes that may develop in the course of time.”
To comply with this provision, the purpose for the gift must be clear and any expenditure against the gifts must be reliably tracked. The duty to track the purpose and expenditures falls jointly to the student organization and to the University.
If the gift is for a general purpose, the organization must comply with the basic Student Organization Accounts Service (SOAS) procedures and the requirements of the granting SSO or unit. If the gift was processed for a specific event, the organization still has to comply with basic SOAS procedures and supply documentation to explain how the expenditures were used for that event.