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Fee-for-Service Educational Activity Loans

Directive Statement

Per Florida Statute (FL Stat §1010.62), Fee-for-Service Educational Activity (FSEAs) are prohibited from loaning funds to other Auxiliaries or providing revenues to secure loans for other FSEAs 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 FSEA funds.

Who must comply?

All Fee-for-Service Educational Activities.

Last Reviewed

04/30/2022: reviewed content

Resources

Central Bank Loan Program

Contacts

Auxiliary Accounting: (352) 294-7236

Banking & Merchant Services: (352) 392-9057

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