55.050: Purchasing - Ohio University Foundation Accounts
|Approved on January 6, 2004||Signatures and dates
on archival copy
Director of Procurement Services
|Herman ("Butch") Hill, Chair
Policy and Procedure Review Committee
Vice President for Administration and Finance
- This policy acknowledges and explains the unique purchasing guidelines in place for purchasing items using Foundation funds.
- All Requisitions to be processed against Foundation accounts are handled according to routine Purchasing policy and procedure, with the following exceptions:
- 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.
- 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.
- 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 Ohio University Foundation Office for payment.
- Proposed revisions of this policy should be reviewed by:
- Policy and Procedure Review Committee
- Foundation Accounting Office Manager
- The following forms are specific to this policy:
- The Direct Payment Form is available from http://www.ohio.edu/finance/procuretopay/forms.cfm.
- Requisition Forms are available from http://www.ohio.edu/finance/procuretopay/forms.cfm.
Dick Piccard revised this file (http://www.ohio.edu/policy/55-050.html) on May 15, 2013.
Please E-mail any comments or suggestions to "firstname.lastname@example.org".