Navigate Up
Sign In

Foundation Accounts Payable Policies and Procedures FY2016

 

 

Alabama A&M University Foundation

Policies, Procedures, and Fees

 

 

Requisitions and Disbursements

 

· All requisitions must be received by the Foundation office by 12 noon on Wednesdays in order to be included in the current weeks’ check disbursement.

· Checks from requisitions submitted by 12 noon on Wednesdays will be disbursed weekly on Fridays after 1:00 pm.  

· Requests submitted after the 12 o’clock deadline will be processed the following Friday or will follow emergency check procedures.

· Requests for disbursements will not be processed if the fund is in deficit nor will requests for reimbursement under $25.00 be processed. Receipts should be accumulated until the request exceeds the $25.00 minimum.

· All requisitions must be accompanied by original documentation and must include the signature of both the requestor and Department Chair or Fund manager.

 

Fund Account Balances

 

Requests for transaction details and/or balances should be submitted to the foundation staff via email. Please allow a maximum of 2 business days for these requests to be processed. Please send emails to karshella.purifoy@aamu.edu and/or kwanjalin.garrett@aamu.edu

 

Establishing New Foundation Accounts

 

In order to open a new foundation account, an application along with an initial deposit of $500.00 (minimum) should be submitted to the Marketing, Communications and Advancement office located in room 309 Patton Hall. Upon approval of the new account the department chair/fund manager will be notified of the new account number.  Any donations hereafter should be submitted to the Marketing, Communications and Advancement office as well.

 

Grants and Contracts

 

To submit a proposal, please complete the following steps:

Prepare and send the paperwork indentified below to AAMU Foundation:

a.      Letter of approval from the Office of Sponsored Programs.

b.      One copy of the proposal for the AAMU Foundation

c.       Please submit all documents 30 days prior to due date, request submitted on due date will not be accepted

 

The AAMU Foundation administers grants that are philanthropic in nature. Acceptance of grants and contracts that would create burdensome administrative requirements on the AAMU Foundation, such as additional audit requirements tied to the grants or significant reporting or monitoring, will not be accepted. Grants administered by the AAMU Foundation are subject to administrative fees.

 

Foundation Fees

 

· Emergency Check  $50.00 (fee for requests submitted after Wednesday for Friday pickup )

· Mail Check $5.00 (fee for checks mailed out by the Foundation office on behalf of the department)

· Reprint Check $5.00 (fee for reprinted checks due to department error-  i.e wrong vendor, misspelled name)

· Cancelled Check $45.00 (fee for stopping a payment on a check)

· Void Check $20.00 (fee for checks voided after 30 days)

· Money Order/Cashier’s Check $10.00 (fee for requisitions that must be paid by certified funds)

 

 

Alabama A&M University
Foundation Office/Normal Hills
P. O. Box 348
Normal, AL 35762-0348
(256) 372-2004 - Main
(256) 372-8470 (Fax)
 
Allen P. Vital, Ph.D.
Executive Director
(256) 372-4170
 
Kwanjalin Garrett
Senior AccountantAccounts Payable
(256) 372-2004
 
Karshella Purifoy
General Ledger Accountant
karshella,purifoy@aamu.edu
(256) 372-2004
 
"Service Thru Stewardship & Trust"