CNU Education Foundation Deposit & Disbursement Training K Spencer McDonald, CPA, Controller CNUEF LaMonte A Williams, Assistant Controller CNUEF K Spencer McDonald, CPA, Controller CNUEF LaMonte A Williams, Assistant Controller CNUEF

Foundation Disbursements P&P begins p 96 at cnu.edu/foundations Main Contact: Jennifer Vance Always use University State funds when allowable they could revert back to the Commonwealth at the end of the fiscal year; Foundation funds and University local funds are carried from year to year P&P begins p 96 at cnu.edu/foundations Main Contact: Jennifer Vance Always use University State funds when allowable they could revert back to the Commonwealth at the end of the fiscal year; Foundation funds and University local funds are carried from year to year

Foundation Disbursements (cont’d) Must have enough money to cover disbursement request When requesting a disbursement Complete a Disbursement Request Best to request that Vendor send Invoice to the Foundation Second Best to request check to be produced for exact amount to the Vendor and bring receipt back to Foundation Foundation Credit Card is available when ordering through a web site and other special situations You must work with a Foundation staff member at the Foundation Offices Credit card numbers will NOT be given out Must have enough money to cover disbursement request When requesting a disbursement Complete a Disbursement Request Best to request that Vendor send Invoice to the Foundation Second Best to request check to be produced for exact amount to the Vendor and bring receipt back to Foundation Foundation Credit Card is available when ordering through a web site and other special situations You must work with a Foundation staff member at the Foundation Offices Credit card numbers will NOT be given out

Foundation Disbursements (cont’d) Travel Use University Process when there is state money available Complete Disbursement Request Use State vehicle when possible; reimburse at $0.246 per mile for personal vehicle is used for your convenience. Mileage at current IRS rate ($0.555, July 2011) when no state vehicle available; we do not reimburse gas for personal vehicle Complete log or “Mapquest” with miles traveled Travel Use University Process when there is state money available Complete Disbursement Request Use State vehicle when possible; reimburse at $0.246 per mile for personal vehicle is used for your convenience. Mileage at current IRS rate ($0.555, July 2011) when no state vehicle available; we do not reimburse gas for personal vehicle Complete log or “Mapquest” with miles traveled

Travel (cont’d) Actual reimbursed meals expenses up to the per diem amount listed at: o?contentId=17943&contentType=GSA_BASIC We do not pay per diem Max allowed in Newport News in 2011 is $46 Actual hotel expenses up to per diem listed at GSA We do not pay per diem Max allowed in Newport News in 2011 is $77 Travel (cont’d) Actual reimbursed meals expenses up to the per diem amount listed at: o?contentId=17943&contentType=GSA_BASIC We do not pay per diem Max allowed in Newport News in 2011 is $46 Actual hotel expenses up to per diem listed at GSA We do not pay per diem Max allowed in Newport News in 2011 is $77

Foundation Disbursements (cont’d) Payments to CNU employees for time worked or projects completed must go through Payroll (AP14a) Payment to students for time worked or projects completed should be completed through Payroll (AP14b) must be reviewed by Student Accounts and Financial Aid to insure that the student’s financial aid eligibility is not affected Payments to CNU employees for time worked or projects completed must go through Payroll (AP14a) Payment to students for time worked or projects completed should be completed through Payroll (AP14b) must be reviewed by Student Accounts and Financial Aid to insure that the student’s financial aid eligibility is not affected

Foundation Disbursements (cont’d) Cash Advances are allowable Cash advance form with proper approvals Receipts and left over funds must be returned within three working days of expenditure or return from trip Cash Advances are allowable Cash advance form with proper approvals Receipts and left over funds must be returned within three working days of expenditure or return from trip

Foundation Deposits Allowable Deposits and Activities Main Contact: Jennifer Vance P&P begins p 92 at cnu.edu/foundations Complete Deposit Form Certain Credit Card Transactions Main Contact: Jennifer Vance P&P begins p 92 at cnu.edu/foundations Complete Deposit Form Certain Credit Card Transactions

Foundation Deposits Allowable Deposits and Activities (cont’d) Gifts Gifts received for departments by check or credit card Faculty & Staff Campaign Payroll Deductions Need to coordinate departmental fund raising efforts with the Advancement Office Notify Gift Processing Manager (Fonda Smith) when you receive a non-monetary gift so that the donor can be recognized Gifts Gifts received for departments by check or credit card Faculty & Staff Campaign Payroll Deductions Need to coordinate departmental fund raising efforts with the Advancement Office Notify Gift Processing Manager (Fonda Smith) when you receive a non-monetary gift so that the donor can be recognized

Foundation Deposits Unallowable Deposits and Activities Events not related to fund-raising or gift receipt use a University local account Registration fees for events at CNU Conferences hosted at CNU Non-CNU activities with faculty involvement use a bank Example of Tidewater CPA vs. FOCUS Student Activity Groups use a University local account Events not related to fund-raising or gift receipt use a University local account Registration fees for events at CNU Conferences hosted at CNU Non-CNU activities with faculty involvement use a bank Example of Tidewater CPA vs. FOCUS Student Activity Groups use a University local account

Foundation Reporting Main Contact: LaMonte Williams Transaction Report and Summary delivered to Department Chairs Quarterly Usually via Review the reports Communicate potential errors to Foundation timely Main Contact: LaMonte Williams Transaction Report and Summary delivered to Department Chairs Quarterly Usually via Review the reports Communicate potential errors to Foundation timely

Foundation & Advancement Contacts Spencer McDonald, Controller LaMonte Williams, Asst Controller Jennifer Vance, Sr. Fiscal Technician Fonda Smith, Gifts Manager Spencer McDonald, Controller LaMonte Williams, Asst Controller Jennifer Vance, Sr. Fiscal Technician Fonda Smith, Gifts Manager