As generative artificial intelligence (Gen AI) becomes more integrated into higher education, institutions struggle to communicate clear and effective policies. This multiple-methods study examines survey and interview data collected with 124 undergraduates and seven faculty members from two U.S. R1 universities regarding their perceptions of institutional AI policies, supportive resources and challenges. Students reported that while classroom-level policies are recognised, institutional guidelines remain unclear. Similarly, faculty highlighted the implementation challenges they face due to practical constraints and insufficient training. Additional findings show that students aware of AI policies are less likely to use AI for writing and research; disciplinary and gender differences in institutional resources and policy awareness. Faculty interviews revealed themes such as AI use in research and varied colleague attitudes. Although this study is limited by the number of institutions and sample size, it highlights the need for ongoing research to support policy refinement.