The Grants Committee shall have the initial and primary responsibility to examine, analyze, and review the grant and budget allocation requests received from the University administration from time to time and to undertake such independent investigation and examination as the Committee may determine to be advisable to ensure thatthey are made in a manner consistent with the objectives and obligations of the Foundation. After such analysis, the Committee shall recommend to the Executive Committee the expenditure of Foundation funds. The Grants Committee shall insure that all funds the use and application of which are restricted are used for the specified purposes specified in the applicable restrictions.
Should there be any disagreement between the University and the Grants Committee as to the use of restricted funds, the basis for the disagreement shall be presented to the Board, and Board shall make the final determination.
-By-Laws of the University of Chattanooga Foundation, Article VI, Section 5