Comptroller's Office
 Policies and Procedures Manual

Effective: 01/01/2000
Revised: 03/09/2012 

CMP 401-04: NAU Foundation Transactions


Purpose

To provide information regarding NAU Foundation disbursement transactions


Source

University and NAU Foundation policy

Policy

Prohibited Transactions

Many NAU departments have various accounts with the NAU Foundation from which they make disbursements. The following disbursements cannot be made from an NAU Foundation account:

  1. The Foundation cannot pay directly to any NAU employee awards, wages/salaries, or supplemental compensation for services performed for the benefit of, and under the direction and control of the University. These must be paid through the University's payroll system, with appropriate withholdings and reporting done by the University. The Foundation will reimburse the appropriate University Local account for these charges upon request.
  2. The Foundation cannot pay wages, salaries or internships to any NAU student. These must be paid through the University payroll system. The Foundation will reimburse the appropriate University Local account for these charges upon request.
  3. Payments cannot be made to independent contractors who are nonresident aliens. Independent contractor payments can be made to U.S. citizens.
  4. Due to legal restrictions, the NAU Foundation cannot lend funds to NAU or any NAU department. Lease-purchase financing may be available for equipment purchases.
  5. Check requests submitted for payment of contractual services or services rendered by non-university employees must have a contract or signed personal letter from the individual describing the services performed, the amount charged, the individual's social security number, and address.

Check Request Procedures

For instructions on requesting a check from the NAU Foundation Office call (928) 523-2017, or visit the Foundation Website.  For information on deposits of Foundation funds to NAU accounts see CMP 303: Gift Deposits

 


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