Policies and Procedures
PAYING COLLEGE EMPLOYEES WITH FOUNDATION FUNDS
All payments to College and Auxiliary Corporation employees for services must be paid through the College Payroll Office – including payments funded from Foundation cost centers. Payments to College employees from Foundation funds will be paid through College restricted cost center 12510 and will be reimbursed from the Foundation.
When an employee performs services, the department should:
1. Complete and sign a “Position Number” Form for the employee.
2. Input, process and complete a Foundation Voucher Authorization Form, which should list “Fashion Institute of Technology” (V9990) as the vendor, NOT the employee.
3. Both the completed and signed Position Number Form and Voucher
Authorization should be forwarded to the Foundation for review and
approval. Once approved by the Foundation staff, the paperwork will be
forwarded to the Accounting Office, which will submit the required forms
to the Payroll Office.