|Activity:||Deposit of Revenue to IU Foundation|
|Policy:||Depositing of Revenue for the Sale of Goods and Services at the IU Foundation, FIN-ACC-460|
|Forms:||Deposit of Revenue to IU Foundation (Form and Instructions)|
|Things to Know:||The deposit of revenue to the IU Foundation covers unallowable expenses in connection with workshops/conferences or other revenue producing activity.|
Instructions for Depositing Revenue to IU Foundation:
An IU account has been created to receive income and expense associated with a revenue producing activity; such as, conference/workshops or selling of products/services.
Funds necessary for expenditures related to revenue generating activities that are unallowable expenditures by university policy may be transferred to the Foundation with documentation if revenues for the activity exceed activity expenditures.
Create and attach IUF Check Request payment or reimbursement with original receipts.
Create a DV associated with the account that received the income for the activity.
The DV will be used to transfer a portion of the revenue to the IU Foundation to cover only the unallowable expense.
Once the DV is complete, print the document, attach to the receipt(s) and to the form (see additional forms above) that needs campus budget office approval.
Complete the transfer approval form, attach all receipts and a copy of the DV together.
Electronically send the DV on for appropriate routing.
On the DV always use object code 4026 and the payment reason of “Reimbursement for Out of Pocket Expenses".
Note: Be sure to check the ATTACHMENTS box. This alerts Accounts Payable to send supporting documents to IUF.
For questions, please contact Charlie Sinex at FMS Accounts Payable, firstname.lastname@example.org.