Effective Date: 02/01/99
11.2.2 Expenditure of GTF Funds
As with the use of
any GIT funds, faculty and staff are to use prudence and good business
judgment with the use of GTF funds. Unit management is responsible for
assuring the funds are used properly and has the responsibility and accountability
for the use of funds consistent with all gift requirements, GIT policies
and procedures, and applicable state and federal laws.
Expenditures processed through GIT
As of February 1, 1999, all business transactions financed by GTF funds are to be processed through GIT in accordance with general business practices and processes. GIT purchasing and expenditure policies and procedures are to be used for these purposes. Expenditures supporting Institute activities that are not permitted with the use of State funds, such as entertainment, employee moving expenses, or expenses that have received prior approval for direct expenditure from the requesting unit's dean, vice provost, provost or vice president may be paid directly by the Georgia Tech Foundation. Exception requests need to be preauthorized and must be obtained using a Foundation Expenditure Exception Request (in Word97 format. Also see Adobe Acrobat form ) form. Expenditure documents for these expenses are to be submitted directly to the Foundation for processing.
Expenditures processed through the Georgia Tech Foundation
Requests for direct
expenditures to be made by the Foundation are to be submitted on the Georgia
Tech Foundation Check Request (in Word97 format. Also see
Adobe Acrobat form) form and
be supported with appropriate documentation and original invoices. Signature
approval will include a certification by the approver that the expenditure
is for Institute business and consistent with the purpose and conditions
of the underlying gift. Invoices and requests for reimbursement should
be submitted on a timely basis and within the fiscal year in which the
expenses were incurred. The check request with documentation is sent to
GTF at Mail Code 0182.
Project Expenditure Reports
Project expenditure reports generated by G&C Accounting and GTRI Accounting will maintain the details of financial activity recorded to both GIT and GTF records. The transaction details and amount of GT Foundation direct expenditures will be reported to G&C and GTRI Accounting on a regular basis for entry into the G&C and GTRI accounting system as "Other Memo" expenditures to provide account managers with financial reports that reflect total project costs. Project expenditure and budget reports for these accounts are available on the Web.