Office of Internal Audit

General Expenditures

1. Sales tax:  Are you aware that all purchases made in the State of Iowa as well as goods shipped to the State of Iowa should be tax exempt?
  • Ideal Answer: YES. Tell the vendor that the University of Iowa is tax exempt from State sales taxes and give the tax exempt number. See Office of Business Operations’ (OBO) website: UNI Sales Tax Exemption.
2. Purchases from University Faculty or Staff:  Are you aware there is a Conflict of Interest policy regarding purchases from faculty or staff?
  • Ideal Answer: YES. Purchases from faculty or staff members exceeding $1,000 for one transaction or $2,000 in one year must be approved by the Board of Regents, State of Iowa (BOR).

3. Low Dollar Purchasing:  Are you familiar with procurement card purchasing?

  • Ideal Answer: YES. A procurement credit card is available to departments to obtain low-cost, non-equipment items. With this authority, the department assumes the responsibility to comply with all state, Regent, and University policies governing procurement operations. See OBO’s Purchasing webpage for detailed purchasing and procurement credit card guidelines and procedures.

4. Iowa Gift Law:  Are you familiar with the Iowa gift law?

  • Ideal Answer: YES. The state of Iowa "gift law" informs us that no more than $3.00 a day is legal to buy something for a person who has authority over aspects of your employment, i.e. supervisors. This is to ensure that neither positive nor negative consequences from a gift would arise for staff. See Policy 10.09 Federal and State Lobbying and Political Activity.