Financial Services Manual (FIN)

FIN Manual Revision NoticeD

Various policies

Revised to update “Development Office” to “ASU Foundation (serving under contract as ASU Development Office)”

Various policies

Revised to state “the ASU Foundation operates the financial management aspects of development at ASU”

Various policies

Revised to update “associate vice president for finance and treasurer” to “senior associate vice president for finance and deputy treasurer”

Sales Tax

Revised to add a Source; to define “transaction privilege tax” as a “sales tax”; to rephrase wording throughout the policy; and to clarify that leases of real property with a life of 12 months or more and/or leases valued at $200,000 in total lease payments be submitted to the Tax Unit of Financial Services

ASU-Affiliated Entity Policy

New policy to describe the organizational requirements, financial and accounting controls, and various required compliances for an ASU-affiliated entity

Org Manager Responsibilities

Revised to clarify that, if there is an overpayment or underpayment of wages or salary, the org manager should contact a payroll specialist to promptly correct the error; to state that “Best Practices related to reconciling payroll expense are available on the Financial Services Web site”; and to state that “All federal funds are to be deposited with Sponsored Projects except for federal financial aid funds, which are to be deposited with ASU’s Office of Student Financial Assistance. Federal funds may not be deposited directly by any department to any of their nonsponsored agency/orgs”

Deposits—ASU-Approved, Financially Related Organizations

Revised to add four organizations to Applicability; to state that any ASU-owned property considered by any ASU campus college or unit to be unnecessary to its operation must only be disposed of through ASU Surplus Property; and to clarify that funds from sales transactions of personal property or subscriptions requiring that sales tax be paid to the State of Arizona must be deposited with ASU or handled by organizations set up for state tax collection and reporting

Moving Expenses

Revised to clarify wording on nondeductible expense reimbursement to the employee; to remove statements that “All nondeductible expenses that are to be paid by ASU, including airfare or lodging paid directly by ASU, must be itemized on the Employee Moving Expenses Reimbursement Worksheet and submitted to Financial Services or West campus Business Services for review. Complete the Moving Expense Optional Information Sheet to explain details or circumstances that require clarification”; to update mileage reimbursement from 18 cents per mile to 24 cents per mile as long as the total taxable and nontaxable mileage rate does not exceed 44.5 cents per mile; and to update information on temporary housing expenses that exceed a period greater than one month

Guest Lecturers, Consultants, and Other Independent Contractors

Revised to clarify wording; to delete a reference; to add a link to PUR 307–04 for Departmental Professional Services Orders

Participant Payments

Revised to clarify that ASU employees, including students, must receive participant stipends through Payroll Supplemental Pay; to state that “Participants who are not ASU employees may be paid their income stipends directly”; and to add that a “flyer, Web page, conference agenda, or other document” may be used to describe the event

Student Financial Support

Revised to clarify wording and to revise citations of IRS publications and forms about the taxability of scholarships

Transportation

Revised to specify that Purchasing and Business Services is required to bid on group airline tickets exceeding $25,000