|Practice Directive #||UWEC 40|
|Division||Finance and Administration|
|Department||Office of the Vice Chancellor for Finance & Administration|
|Contact||Special Assistant to the Vice Chancellor | email@example.com|
|Effective Date||September 15, 2023|
|Revision Date||September 15, 2024|
The purpose of this practice directive is to establish general parameters for completing reports regarding foreign transactions required by law and University of Wisconsin (UW) System policy. This practice directive does not supersede any stricter standards set by state or federal law.
UW-Eau Claire places significant emphasis on adhering to compliance with foreign gifts and contracts reporting. This commitment supports transparency in financial dealings with international entities, bolstering confidence among stakeholders including students, faculty, staff, donors, and relevant authorities. In addition, comprehensive reporting facilitates informed decision-making for university leadership, enabling effective allocation of resources and strategic initiatives. Finally, adherence to these regulations averts potential legal and financial consequences, preserving the university's standing and fiscal integrity over time.