New process for accessing funds held at the »Æ¹ÏÊÓÆµFoundation

June 8, 2023

»Æ¹ÏÊÓÆµFoundation

The »Æ¹ÏÊÓÆµFoundation is pleased to announce that gaining access to funds held at the »Æ¹ÏÊÓÆµFoundation will be easier than ever before. This new process was developed in collaboration with fiscal managers from each university with a goal to allow for a simplified and standardized process of spending foundation funds, making it easier for the university to put these donor dollars to work.

The new process will bypass direct reimbursements and the grant setup through sponsored programs offices at the university level. Instead, »Æ¹ÏÊÓÆµFoundation will transfer funds directly to the benefiting university using permanent expense accounts.

After a successful testing process in BANQ, the pilot phase began in BANP and is now nearing completion. The »Æ¹ÏÊÓÆµFoundation will no longer be approving new grant requests or budget increases and, instead, will be migrating new requests to this new »Æ¹ÏÊÓÆµFoundation Fund Distribution Process.

»Æ¹ÏÊÓÆµFoundation training on the fund request process will run periodically through June 27. You can .

Additional training sessions on the Foundation Fund Expenditure Accounts, which is the Banner side of the process, will be announced very soon.

For more information, please visit the  or contact Tlisa Northcutt or Carrie Santoro at the »Æ¹ÏÊÓÆµFoundation.