Policy As a collaborative product with guidance from the University’s senior business administrators and other campus subject matter experts, this policy serves as Wake Forest University’s primary guidance on purchasing. This standardized procurement policy and the accompanying work processes have been created to conform with […]
Categories: Financial
Policy As a 501(c)(3) organization, as categorized by the IRS, the University may only make contributions (funds, goods, or services) to another entity, qualified charity, or individuals when certain conditions or criteria are met and when the contribution relates to the mission of the University. […]
Categories: Financial
Policy Expenditures necessary in carrying out the mission of the University, consistent with the normal business operations of the University. These expenses are reasonable in nature and are paid or funded by the University. The University supports the “accountable plan” as defined by IRS regulations […]
Categories: Financial
Policy All funds accepted by a University department or representative must be restrictively endorsed upon receipt and deposited either at the University’s bank or brought to the University Cashier in Student Financial Services within one (1) business day of initial receipt.
Categories: Financial
Policy Fixed assets are tangible long-term assets or property (that cannot easily be converted into cash) with acquisition value (unusually original cost) in excess of certain thresholds and whether purchased, constructed, gifted/ donated, or leased are owned or accountable by the University and not a […]
Categories: Financial
Policy Petty cash and change funds (i.e. cash drawers) are approved and maintained where needed for the convenience of paying for authorized incidental expenses or making change where cash is regularly received from customers. As loans from the general fund of the University, the established […]
Categories: Financial
