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Educational Business Activity Loans

Directive Statement

Per Florida Statute (FL Stat §1010.62), Educational Business Activities (EBAs) are prohibited from loaning funds to other Auxiliaries/EBAs or providing revenues to secure loans for other EBAs unless approved by the Board of Governors.

All institutional loans must be administered by the University’s Central Bank Institutional Loan Program.

Reason for Directive

To comply with Florida Statute 1010.62 and ensure responsible stewardship of EBA funds.

Who must comply?

All Educational Business Activities.

Definitions

Educational Business Activity

Revenue-generating activity from the provision of goods and/or services.  Such activity enhances, promotes, or supports the University’s instruction, research, public service and campus support functions, and other educational and support functions in order to meet the needs of students, faculty, staff, and members of the public participating in University events and programs.

Last Reviewed

07/31/2020: reviewed content

Resources

Central Bank Loan Program

Contacts

Educational Business Activity/Auxiliary Accounting: (352) 294-7236

Treasury Management: (352) 392-9057

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