Accounts Payable Overview
KSU Foundation Expenditure Control Overview
The mission of the Kennesaw State University Foundation is to serve as an advocate for the University, and to receive, invest, account for, and allocate private gifts and contributions in support of Kennesaw State University. Private philanthropic support depends, in part, upon the confidence donors have in the Kennesaw State University Foundation's commitment to sound fiduciary management of funds, including expenses. As employees of the University System of Georgia, all KSU personnel are therefore subject to USG rules and regulations with respect to expense reimbursements and other financial support.
Accordingly, the following general principles apply in judging the appropriateness of expense reimbursements:
- All expenses must be both reasonable in amount and have a business purpose that directly benefits and supports the mission of Kennesaw State University and the appropriate college, school, or department requesting payment or reimbursement.
- All Kennesaw State University employees should initially seek reimbursement from Kennesaw State University using state funding to the maximum extent permitted under USG Rules and Regulations. Thereafter, an application should be submitted to the Kennesaw State University Foundation through WebInvoicing for reimbursement for any expenses not covered by the state.
- Anyone requesting reimbursement from the Kennesaw State University Foundation should consider that reimbursable funds come from donor-provided dollars and all expense requests are subject to audit by the USG and open to public scrutiny and open records requests. All expense requests must be properly documented, reasonable in scope, related to University business and must be in compliance with the donor’s original intent for use of the funds.
- While the KSU Foundation is committed to sound fiduciary management of the funds held by the Foundation, responsibility for the distribution of funds is the ultimate responsibility of the “owner” of the accounts and final approver of any reimbursement requests.
- Any expenditure viewed as having a personal or fringe benefit to an individual, and therefore not benefiting the University, are not allowable expenses (unless specifically approved by the President of Kennesaw State University in accordance with Section 12.5 Cooperative Organizations of the Board of Regents Policy Manual, Official Policies of the University System of Georgia.)
- Requests for reimbursements must be approved by a University employee senior in job position to the employee making the request (therefore considered the “owner” of the account). Approvals for expenditures from the President’s Office shall be approved by the Chief Business Officer (CBO).
Whenever possible, the unit/department should seek to obtain direct billing/invoicing from vendors.