Policies and Procedures
PROCESSING EXPENDITURES AGAINST EDUCATIONAL
FOUNDATION COST CENTERS
Effective immediately, departments will now directly process requisitions
against their Foundation restricted and endowed cost centers, per the
guidelines below. These revised procedures will apply to all expenditures,
- Capital expenditures – equipment and renovation costs in excess of
- Payments of stipends to College employees
- Awards and financial aid to applied directly to student accounts
1. All departments will now directly process requisitions against their
Foundation cost centers in BiTech via the POUPPR screen – exactly as you
do now against College unrestricted and restricted cost centers, except
you should use the PRZFDN seed to create a Z voucher.
2. You will then print a Foundation Voucher Authorization (rather than
a Purchase Requisition Authorization), which should be approved as
indicated. Approval requirements and guidelines regarding amounts are the
same for Foundation accounts as they are for College accounts. Under no
circumstances may an employee approve his/her expenses; nor may an
employee approve a supervisor’s expenses.
3. You should then send the completed Foundation Voucher Authorization and
all required back-up (invoices, expense report forms, etc.) to the
Foundation office (C-204).
4. The Foundation staff will review the submitted Authorization form and
paperwork for appropriateness and available funding. If approved, the
Authorization must be signed by either the Foundation’s Director of
Operations or Executive Director and forwarded to the College Accounting
5. The Accounting Office staff will review and approve all requisitions as
indicated, and Accounts Payable will issue a check against the
Foundation’s bank account.
In order to facilitate these new procedures, a new BiTech CDD report is
available which will enable you to view all cost centers in both the
College and EFFI for any department: Total Department Activity Summary
Report. The report is in the User Reports, Manager Reports and Educational
Foundation Reports CDD folders.
A sample report (using the Accounting Office) will look like this:
If you believe that a College or EFFI cost center “belonging” to your
department is missing from the report, please contact either John-Harvard
Reid in the Foundation Office (7-8656) or myself (7-7231).
You should note that for endowed EFFI accounts, the report displays only
the spendable income earned by the endowed account, set at 5% of
principal. For questions regarding endowment principal or earnings, please
contact John-Harvard Reid or myself.
EXCEPTIONS AND SPECIAL HANDLING:
Please note the following exceptions to the above guidelines:
- Capital equipment and construction (more than $5,000) and computer
equipment, which must be processed through the College’s Purchasing
Office. PURCHASING EQUIPMENT WITH FOUNDATION FUNDS
- Payments to College employees, which must be processed through the
College’s Payroll Office. PAYING COLLEGE EMPLOYEES WITH FOUNDATION FUNDS
- Payments of awards and scholarships to students, which must be
processed through the Bursar’s Office and applied directly to the
student’s account. PROCESSING FOUNDATION STUDENT AWARDS AND SCHOLARSHIPS
In each of these cases, the expense is initially charged to a College
restricted cost center, which is then reimbursed by the Foundation. You
should contact either Al Place (7-8022) or myself (7-7231) in the
Accounting Office, or John-Harvard Reid in the Foundation Office (7-8656)
for additional information about processing any of these types of