Section 8-B401. AUTHORITY OF THE BOARD AND UNIVERSITY OFFICIALS

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401.1No member of the Board of Trustees or any official of the University shall be authorized to expend any funds on hand which may have accrued from balances from previous periods or from income for any subsequent period unless those expenditures have been approved by the Board.

401.2Bonds of public officials authorizing expenditures for any purpose in excess of budgeted amounts approved by the Board shall be liable for the amount of unauthorized expenditures.

                    
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