1. Purpose

   This policy acknowledges and explains the unique purchasing guidelines in place for purchasing items using Foundation funds.

2. Policy

   All Requisitions to be processed against Foundation accounts are handled according to routine Purchasing policy and procedure, with the following exceptions:

   1. The requirements of Policy 55.007, "Purchasing - Competitive Bidding," do not apply. Regardless of the dollar amount of the expenditure, competitive bidding is not required for items purchased solely with Foundation funds.

   2. Some items that are not permitted for purchase using other University funds (as described in Policy 55.003, "Purchasing Authority: Vendor Selection, Personal Purchases, Land and Building Acquisition, Conflict-of-Interest") may be permitted on Foundation funds. See Policy 03.016, "Foundation Expenditures," for a detailed listing.

3. Procedures

   Departments using Foundation funds for a purchase may use a P-card, a Direct Payment Form, or a Requisition as appropriate. Invoices are to be sent to the initiating department for approval and forwarded to the 91探花 Foundation Office for payment.

Reviewers

Proposed revisions of this policy should be reviewed by:

1. Policy and Procedure Review Committee

2. Foundation Accounting Office Manager

Forms, References, and History

1. Forms

   The following forms are specific to this policy:

   1. The Direct Payment Form is available from /finance/forms.

   2. Requisition Forms are available from /finance/forms.