Procedure 4-14

Transactions with Employees

Responsible Officer: Chief Financial Officer and Vice President

Sponsoring Department: Procurement Services

Revision Date: 20 April 2016

Errors or changes to:

Purchase from, or sale to, any officer or employee of System Administration or an institution of any supplies, materials, services, equipment, or property must have the prior approval of the chief administrative officer (President). Any such purchases shall be made only if the cost is less than from any other known source. If purchase or sale is approved by the chief administration officer, documentation supporting this must be attached to applicable UTShare transactions.

This procedure does not apply to sales or purchases made at public auction.