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.
- An expense associated with the activity that has been unallowable under the IU policy - such as purchase of alcohol - this expense, may be covered through the 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 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.
- Send the documents to Rozzie Gerstman, Bryan Hall 007 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 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.