SUBJECT: |
Receipt of gift money in Non-Student Accounts Receivable |
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SOURCE: |
Non-Student Accounts Receivable, Financial Management Services |
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ORIGINAL DATE OF ISSUE: |
November 2016 |
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DATE OF LAST REVISION: |
December 2018 |
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AROP NO: |
10.0 |
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RATIONALE: |
To define the process for when Non-Student Accounts Receivable receives a check intended for Indiana University Foundation (IU Foundation). |
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ARSOP: |
Policy FIN-ACC-I-40 states that IU Foundation Gift Administration Office is to deposit, record and receipt all gifts received by Indiana University. This ensures that all donor records are comprehensive and accurate and in compliance with Internal Revenue Service (IRS) regulations. It is important to note that all solicitations from the various schools and campuses should be directing the donor gifts to be sent to the IU Foundation bank lockbox. If a check is received in Non-Student AR the following procedures take place in accordance with procedures established by Financial Management Services and the Office of the Treasurer. Receipt of check in Non-Student AR:
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DEFINITIONS: |
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CROSS REFERENCES: |
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RESPONSIBLE ORGANIZATION: |