Finance Division

Accounting Services

RELATED CORPORATE ENTITIES
Effective:   June 1, 2002

Related Corporate Entities with a primary purpose, as documented in the bylaws or tax exemption, of benefiting Clemson University must have an approved cooperative agreement with Clemson University. A cooperative agreement should be signed and on file in the University Comptrollers Office. The cooperative agreement, at a minimum, must include:

  • The primary purpose of the relationship
  • A description of the related entity
  • The transfer of funds between Clemson University and the entity
  • Payments to, and on behalf of, Clemson University employees
  • A current roster of board members and a listing of all Clemson University employees with responsibilities in the related entity
  • Availability of access for internal auditor and or external auditors to these entities
  • A requirement for an annual audit to be performed by an independent auditor
  • A requirement for an audited financial statement to be delivered to Clemson University no later than 31 October of each year

The Clemson University Board of Trustees will periodically evaluate each cooperative agreement.