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Foundation Business Support

Foundation Business Support

This page contains information in relation to financial procedures for the management of Foundation Funds in ECU.

Donor funds are not based on a contractual agreement - donor funds are freely provided by individuals/institutions/companies with no strings attached.

The Foundation operates on a cash basis which means that no Foundation funds can be sent on the assumption that the Foundation will fund it later if monies become available. The Foundation in all cases approves expenditure to be made with Foundation funds.

Should you have any queries, please email foundationbusinesssupport@ecu.edu.au

Donations

ECU Foundation receives and holds all donations made to ECU.   Should you have any funds coming into the university without an official agreement, please contact foundationbusinesssupport@ecu.edu.au with details.

Foundation Funds/Payment Request Form

The Foundation holds funds of different source and purpose under specific restriction.  A very specific delegation therefore exists to approve any expenditure or funding from the Foundation.

The Foundation has a very specific form to be completed in all cases when funding from the Foundation are required/requested.  This form is to be used in conjunction with the normal payables documentation.

See Downloads to download a copy of this form.

Prizes Financial Administration

The Foundation holds all Prizes funding for the university.   All donors are invoiced from the Foundation and payments to chosen students are also done from the Foundation. Please note the following guidelines specifically in relation to prizes.

Collection of Prizes Funding:

  • Schools need to contact FBSC (Business Support Team for Foundation) on email address “FoundationBusinessSupport@ecu.edu.au” to raise invoices to prize donors for prize funding.  Contact details and documentation of the donation/contribution to be made available to FBSC at this time.
  • Schools need to request invoices at least 2 months prior to award/payment of prize to allow enough time for prize donors to make payment as per normal credit terms of 30 days.
  • Invoices will be made available to Schools (copying in the Office of Alumni and Development Relations) for distribution to prize donors.
  • Invoices need to be distributed to prize donors immediately upon receiving it in the school to allow the prize donors enough time to make payment in time for the awarding of the prize to a student.
  • Information on outstanding payments by prize donors is available as per normal financial systems and procedures but Foundation Business Support Team will put out regular emails advising of outstanding payments to be followed up by schools.   Emails will go out to the group of contacts provided to FBSC by schools to email address “FoundationBusinessSupport@ecu.edu.au)

Prize Payments:

  • Schools need to submit requests for Prize Payments to FoundationBusinessSupport@ecu.edu.au or by mail to Foundation Business Support Team – Business Services, FBSC
  • Prize Payment documentation must include the Foundation Funding Request Form as well as normal Accounts Payable Payment forms and supporting documentation.
  • A Prize Payment Request should only be submitted for approval and payment if the cash for the relevant prize is received at ECU at the time of submission.
  • Prize Payment documentation will be compliance checked and confirmed.   If the documentation is compliant, it will be recommended for payment to the relevant Foundation Delegation.  Foundation Business Support team will then submit for processing as per normal Accounts Payable deadlines.
  • If prize payment documentation does not comply, the relevant school will be contacted to resolve outstanding issues.
  • Prize Payment requests need to be submitted by the very latest 10 working days ahead of the day that the prize payment needs to be ready.  Note Accounts Payable payment run dates as per the MonthEnd Timetable available from FBSC webpage.
  • If a cheque is required, it needs to be picked up by the relevant school and kept secured at all times.
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