Chapter 7 - General Finance Provisions
Part 1. Authority. Pursuant to Minnesota Statutes §136F.80, the Board of Trustees has the authority to apply for, receive and accept on behalf of the state and for the benefit of state colleges or universities any federal, state or private gift or grants. Each gift or grant must be consistent with the college, university or system mission.
Part 2. Responsibility. Each college and university president is authorized on behalf of the board to accept gifts and grants made to the institution, other than gifts or grants of real property. All private gifts and grants over $100,000 shall be reported to the chancellor as detailed in Part 4 of this policy. In accordance with policy 5.14 Contracts and Procurements all private grants exceeding $3,000,000 must be approved by the board.
Also in accordance with policy 5.14 Contracts and Procurements, any grant agreements that do not adhere to system approved contract templates must be approved in advance by the office of general counsel or attorney general’s office.
The chancellor is authorized on behalf of the board to accept gifts and grants made to the system office.
All gifts and grants of real property shall be approved by the chancellor and are subject to Policy 6.7.
All gifts and grants must be recorded in the Minnesota State Colleges and Universities financial system.
Part 3. Transfer of Gift. A college or university that receives a gift or bequest as provided in Minnesota Statutes §136F.80 and §136F.81 that is intended for the purposes performed by a foundation approved under Minnesota Statutes §136F.46 may transfer the money to its foundation, provided the money is used only for public purposes.
Part 4. Accountability/Reporting. No proposal shall be submitted to any funding authority without the signature of the president (for institutional grants) or the chancellor (for system office grants), or a person designated by the president or chancellor.
The chancellor or designee will be periodically updated on the nature and the amount of all private gifts and grants with a value in excess of $100,000 accepted by the colleges, the universities, and the system. The colleges and universities shall maintain a list of all private gifts and grants for incorporation into a comprehensive annual report to the chancellor.
To view any of the following related statutes, go to the Revisor's Web site (http://www.revisor.leg.state.mn.us/). You can conduct a search from this site by typing in the statute number.
Date of Implementation: 06/21/00
Date of Adoption: 06/21/00
Date & Subject of Revisions:
06/17/15 - Amended Part 2, requiring that private gifts and grants greater than $100,000 will be reported to the chancellor. Also added statements clarifying that approvals required by policy 5.14 Contracts and Procurement also applied to grant agreements.
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