Activity: Deposit of Revenue to IU Foundation - BC Financial Policy: I - 460 Depositing of Revenue for the Sale of Goods and Services at the IU Foundation http://www.indiana.edu/~vpcfo/policies/accounting/i-460.html Related Policies: N/A Additional Forms: Deposit of Revenue to IU Foundation Form and Instructions. Things to Know: Deposit of revenue to the IU Foundation to cover unallowable expenses inconnection 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.
- An expense associated with the activity has being unallowable under the IU policy such as purchase of alcohol, this expense may covered through IU Foundation
- 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 theform 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
- Send the documents to Rozzie Gerstman, Bryan Hall 100 for further review – which may include discussion with an RC fiscal officer otherwise the documentation will go on to Accounts Payable (Charles Sinex) for processing.
- On the DV always use object code 4026 and the reason of “reimbursement for out of pocket expenses.
- Note: Be sure to check the box for ATTACHMENTS. This alerts Accounts Payable to send supporting documents to IUF.
