FIN 214: Agency
To describe agency accounts
Agency agency/orgs (“agency accounts”) are
established and maintained by Financial Services separate from
university agency/orgs within its accounting system
An agency account is an account supported by an external funding
source that has a relationship with the university but is
financially independent of ASU. Typical agency account categories,
with examples, are:
- separate organizations (e.g., Residential Hall Association
- journal publications (e.g., German Studies Review)
- another organization’s event at ASU (e.g., NCAA Regional
- another organization’s conference (e.g., National
Educational Computing Conference)
- another organization’s operations (e.g., Rocky Mountain
In some situations, it may not be clear if a new agency/org is
an agency account. The presence of the following might help to
indicate whether an agency/org is an agency account:
- the funding is coming from registration fees, subscriptions,
or other revenues made payable to an organization legally separate
- when the account is closed, any remaining balance belongs to an
organization separate from ASU
- expenses are the responsibility of an organization other than
- the majority of the funding is coming from sources other than
ASU accounts and the revenue does not belong to ASU.
For agency/orgs with one or more of the foregoing conditions,
please contact Financial Services
for a determination about whether the funds should be accounted for
in an agency account.
ASU maintains fiduciary responsibility for agency account funds
as long as they reside in ASU’s financial system. The
following apply to all agency accounts:
- Agency accounts are required to follow university policies and
procedures. Specific exceptions to university policies and
procedures must be preauthorized in writing by the senior associate vice president for Finance and deputy treasurer.
- Agency accounts that function primarily as payroll clearing
accounts or that incur significant payroll-related expenses are
assessed an administrative services charge by ASU.
- Agency accounts are expected to maintain positive balances. In
situations where agency accounts incur a negative balance, the
deficit must be funded within 10 days of occurrence.
- Agency accounts with recurring deficits not funded within 10
days may be subject to a special administrative services charge in
order to recoup investment income lost by the university.
- Agency accounts are not to be identified as a part of ASU and
may not use any of ASU’s identifying numbers, e.g., tax
identification number. Questions should be referred to the
ASU Office of General
- Agency accounts may not use ASU’s name or logo without
specific written approval of the appropriate university office.
Questions should be referred to the ASU Office of General
- Agency accounts are prohibited from using “capital”
object codes and “gifts” revenue codes in order to
simplify the accounting for university assets and gifts.
- Revenue belonging to ASU must not be deposited to nor recorded
in an agency account.
- Agency accounts are prohibited from using transfer in/out object codes because it signifies an internal transfer of university funds.
- Checks for payment or sponsorship for deposit to an agency account should be made payable to the title of the account or sponsoring organization for the account.
For information on agency/org structures, see FIN 201, “Agency/Org and Coding
For information on establishing an agency/org, see FIN 202, “Establishment of
For information on expenditure coding, see FIN 430–01, “Overall Expenditure Coding Structure.”
For information on revenue coding, see FIN 308–01, “Overall Revenue Coding Structure.”
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