5.8-2 FINANCIAL CONFLICT OF INTEREST
The University respects the rights of its employees in their activities outside their employment at Saginaw Valley State University which are private in nature and which in no way conflict with or reflect upon the University. We believe that our administrators have been carefully selected and that we can trust their integrity, judgment and courage. The following statements of policy are made to avoid any misunderstanding.
Administrative Policy Statement
Each employee must avoid incurring any kind of financial or personal obligation which might affect his or her judgment in dealing for the University with outside firms or individuals. Employees must examine their own activities and those of their families to be sure that no condition exists which creates a conflict of interest or apparent conflict of interest with respect to transactions of the University.
- There are certain areas in which each individual must be especially concerned. Where there is any question about a conflict of interest, even though it may not exist in actuality, the particular situation should be disclosed in writing and filed with the Staff Relations Office. The areas about which care should be exercised include the following:
- Holding a financial interest of 5% or greater (that is, any stake, including stockholder, partner, joint venture, creditor, guarantor, or director) in a firm which provides services or supplies, materials or equipment to the University.
- Borrowing money from suppliers, individuals or firms, except for financial institutions with whom the University does business.
- Accepting gifts or favors for oneself or for any member of one's immediate family, or entertainment or other personal obligations, from an outside organization or individual which are substantial enough to influence one's selection of goods and services for the University. This does not apply to acceptance of perishable or consumable gifts of a nominal value of $25 or less, nor reasonable personal entertainment; but care must be exercised to be sure that continuation of such matters does not gradually build up into an embarassing obligation. Any gift that is of a substantial nature should be returned to the donor with the explanation that University policy does not permit the acceptance of the gift. The University will take care of the expenses of returning such gifts.
- Acquisition by purchase or lease of real estate in which it is known the University has an interest, or which may improve in value because of the University's interest in adjoining property.
- The misuse or unauthorized release of information to which the employee has access by reason of his position, such as the disclosure of confidential information to competitors or others outside the University.
- A holding not exceeding 1% of any class of security of a publicly-traded corporation will not be deemed a violation of this policy.
Copies of this policy statement are to be sent to all officers, deans and other selected individuals once a year, on February 1, with the request that they sign one copy and return it to the Staff Relations Office of the University as an indication that they understand the policy. Accompanying the signed policy should be a letter disclosing any possible conflict of interest on the part of themselves or their families (spouse, parents, brothers, sisters, children, nieces, nephews and spouses of brothers, sisters, children) of which they are aware. If a situation should develop during the year, a statement should be filed with the Staff Relations Office at the time. It shall be the responsibility of the President (or his designee) to determine whether conflicts of interest do exist and to take such steps to protect the University as seem to be required.
I have read and understand this policy and will observe it carefully.
Signature: ________________________________________ Date: _______________
Adopted 5/05/89 BC