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UT System Administration Policy Library -- Policy UTS134
Code of Ethics for Financial Officers and Employees |
Responsible Officer: Executive Vice Chancellor for Business Affairs
Issuing Office: Office of General Counsel
Effective Date: October 15, 2004
Last Reviewed: December 10, 2007
Next Scheduled Review: October 15, 2011
Errors or changes to: policyoffice@utsystem.edu
CONTENTS
Policy Statement
Rationale
Scope
Website Address For This Policy
Related Statutes, Policies, Requirements Or Standards
Contacts
Definitions
Responsibilities
Procedures
Forms Tools/Online Processes
Appendix
POLICY STATEMENT
The University of Texas System recognizes that institutions of higher education are entrusted by society with great resources and commensurately great responsibilities for the creation, dissemination, and preservation of knowledge. University officers and employees involved in financial matters play a key role in assuring that high standards of ethical practice attend to the custody and use of these resources.
It is therefore the policy of the UT System to require honest and ethical conduct of all officers and employees of the UT System or its institutions who are authorized to execute contracts on behalf of the System or an institution, or who exercise discretion with regard to the award of contracts or other pecuniary transactions of government.
RATIONALE
In keeping with the spirit of the Sarbanes-Oxley Act of 2002, the purpose of this policy is to provide a code of ethics for officers and employees in the UT System Administration and in each institution of the UT System who are authorized to execute contracts on behalf of the System or an institution, or who exercise discretion with regard to the award of contracts or other pecuniary transactions of government.
SCOPE
All institutions and UT System Administration
WEBSITE ADDRESS FOR THIS POLICY
http://www.utsystem.edu/policy/policies/uts134.html
RELATED STATUTES, POLICIES, REQUIREMENTS OR STANDARDS
UT System Administration Policies & Standards |
Other Statutes, Policies & Standards |
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CONTACTS
If you have any questions about UT System Administration Policy UTS 134, Code of Ethics for Financial Officers and Employees, contact the following offices:
DEFINITIONS
Financial Officers and Employees:Officers and employees in the UT System Administration and in each institution of the UT System who are authorized to execute contracts on behalf of the System or an institution, or who exercise discretion with regard to the award of contracts or other pecuniary transactions of government.
RESPONSIBILITIES
Financial Officers and Employees of UT System or its Institutions
- Comply with the Financial Code of Ethics provided by Section 1
UT System and its institutions
- Review rules and policies relating to financial activities by its officers and employees to ensure that the rules and policies are, at a minimum, in compliance with the rules and policies listed in Section 2.
- Do not use any funds under their control to make a personal loan to any officer or employee of the UT System or of an institution, excluding loans available to the general public and made available on the same terms, such as student loans.
PROCEDURES
1. Financial Code of Ethics
Financial officers and employees of the UT System or its institutions shall:
a. Act with honesty and integrity, including handling actual or apparent conflicts of interest between personal and professional relationships in an ethical manner;
b. File complete, accurate, timely, and understandable disclosure statements as required by applicable laws, rules, or policies;
c. Comply with applicable federal or state laws and local ordinances, and with applicable rules and policies of the UT System or its institutions;
d. Act in good faith, responsibly, and with due care, competence and diligence, without misrepresenting material facts or allowing one’s independence of judgment to be subordinated;
e. Share knowledge and maintain skills important and relevant to job requirements;
f. Respect the confidentiality of information acquired in the course of work and made confidential by law; and
g. Proactively promote ethical behavior in the work environment.
2 Applicable Rules and Policies
2.1 The following Regent’s Rules and Regulations, Administrative Rules, and UT System policies are particularly relevant to ethical issues that may arise for financial officers and employees:
a. Board of Regents’ Rules and Regulations, Rule 30103 (Standards of Conduct)
b. Board of Regents’ Rules and Regulations, Rule 30104 (Conflict of Interest)
c. Board of Regents’ Rules and Regulations, Rule 10501, Section 8 (Power to Authorize Expenditures)
d. Board of Regents’ Rules and Regulations, Rule 60306 (Use of University Resources)
e. UTS159, Purchasing
f. UTS110, Employees of the University of Texas System Financial Disclosure and Conflict of Interest Policy
3. Reports of Noncompliance
Any allegations of a violation of the rules and policies listed in Section 3.2 of this policy shall be reported as provided by UTS131, Protection from Retaliation for Reported Suspected Wrongdoing, and applicable institutional procedures adopted under that policy and published in the institution’s Handbook of Operating Procedures.
4. Availability of Rules and Policies
All of the rules and policies listed in Section 2 of this policy, as well as this policy, are available on or linked from the UT System Policy Office web site.
5. Policy Review by Institutions
Each institution shall review its rules and policies relating to financial activities by its officers and employees and shall ensure that the rules and policies are, at a minimum, in compliance with the rules and policies listed in Section 2 of this policy.
6. Loan Prohibition
As provided by Article III, Section 51, of the Texas Constitution, the UT System and its institutions may not use any funds under their control to make a personal loan to any officer or employee of the UT System or of an institution. This prohibition does not apply to the provision of loans that are available to the general public and that are made available to the officer or employee on the same terms as they are made available to the general public, such as student loans.
FORMS AND TOOLS/ONLINE PROCESSES
None
APPENDIX
None
