2015 Tennessee Code
Title 49 - Education
Chapter 14 - Higher Education Accountability Act of 2004
§ 49-14-104 - Reports -- Legislative intent.

The board of regents created under chapter 8, part 2, of this title and the University of Tennessee board of trustees created under chapter 9, part 2, of this title shall establish a policy requiring that reports by their respective system president or chancellor, and presidents or chancellors detailing expenditures made by, at the direction of, or for the benefit of, the chancellor or president be filed with the board no less than annually. It is the legislative intent that the policy require the report of discretionary expenditures, which shall include, but not be limited to, unrestricted gifts, foundation funds, athletic funds, sponsorship fees, licenses and royalty funds and other such funds that would not be included in the operating budget for the chancellor's or the president's office. Chancellors or presidents shall not have the authority to grant themselves an exception to fiscal, spending or travel policies established by the board or by statute.