FOUNDATION PAYMENT REQUEST FORM

When requesting funds from a Foundation account, the OU Foundation Payment Request Form should be used. Any questions concerning this form should be addressed to the OU Foundation.

BUDGET PREPARATION

As part of the annual budget preparation it is necessary to present for Regents' approval the budgets of those unrestricted OU Foundation accounts for which University employees are account sponsors. The projected expenditure information need only be provided for those OU Foundation accounts which are designated as unrestricted, such as those funds which can be expended at the discretion of the account sponsor to support University initiatives and the enrichment of the program at The University of Oklahoma.

Regents' approval is required to increase Foundation account budgets beyond initially approved amounts. Budgeted expenditures should be based upon past activity in each account as well as projected fund income for the next year.

FOUNDATION ACCOUNT BUDGET FORM

An OU Foundation Budget Form should be completed to report projected expenditures for the upcoming fiscal year. A separate form should be completed for each Foundation account and returned with other budget materials each year. All OU Foundation discretionary accounts are included.

DESCRIPTION OF TERMS

1. Discretionary/Unrestricted Funds. Private donor funds which have no specific restrictions placed upon them by the donor, and therefore can be expended by the account sponsor at his/her discretion to support University initiatives and the enrichment of the program at the University.

2. Restricted Funds. Private donor funds which have specific restrictions placed upon them by the donor or are restricted by the nature of that particular account such as those restricted for the purchase of library books, to minority scholarships, to fund an endowment, etc. While a sponsor has the discretion to select the scholarship recipient or the library book, these funds are restricted to a specific purpose.

3. Salaries, Wages and Associated Fringe Benefits. Pay for employees and students including costs for organization's contribution to Social Security, Unemployment and Workers Compensation, health and life insurance, and tax-deferred retirement programs.

4. Scholarships and Fellowships. Monies paid to undergraduate and graduate students based on academic performance or financial need.

5. Student Awards and Honors. Monies awarded to students in conjunction with special and continuing awards such as the purchase of plaques and certificates, engraving costs, or the hosting of luncheons, receptions and dinners.

6. Faculty Awards and Honors. Monies awarded to tenure-track and other faculty to recognize outstanding teaching, research or service such as the purchase of plaques, certificates or other forms of recognition, engraving costs, or the hosting of luncheons, receptions and dinners.

7. Hosting/Sponsorship of Meetings, Conferences, etc. Expenditures to host or sponsor, individually or jointly, academic and professional conferences, meetings, consortia, symposia and workshops involving faculty or students.

8. Library Enrichment, Scholarly Journals and Books. Expenditures to acquire library books, scholarly journals and other materials normally associated with library collections.

9. Travel. Expenditures in support of professional development including transportation, lodging, meals, and other related expenses.

10. Fund Raising. Meals, receptions and social functions held for the purpose of fund raising.

11. University and Public Relations. Meals, receptions and social functions held for the purpose of promoting the University.

12. University Promotions. Flowers, gifts, coffee, soft drinks, club memberships or dues for University purposes.

13. Postage, Telephone and Other Communications. Expenditures for telegraph, fax, postage, and fixed monthly and long distance telephone charges.

14. Office Supplies. Supplies, printing, postage, publications, subscriptions, memberships and dues to professional organizations.

15. Computer Supplies and Equipment. Expenditures for computer equipment, supplies and maintenance contracts charged to individual accounts and for the costs for operation of the campus data processing system.

16. Maintenance and Repairs to Buildings. Expenditures for the upgrading and repair of buildings.

17. Memberships. Expenditures for dues and fees of organizations.

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