New process for accessing funds held at the UA Foundation
June 8, 2023
The UA Foundation is pleased to announce that gaining access to funds held at the UA Foundation will be easier than ever before. This new process was developed in collaboration with fiscal managers from each university with a goal to allow for a simplified and standardized process of spending foundation funds, making it easier for the university to put these donor dollars to work.
The new process will bypass direct reimbursements and the grant setup through sponsored programs offices at the university level. Instead, UA Foundation will transfer funds directly to the benefiting university using permanent expense accounts.
After a successful testing process in BANQ, the pilot phase began in BANP and is now nearing completion. The UA Foundation will no longer be approving new grant requests or budget increases and, instead, will be migrating new requests to this new UA Foundation Fund Distribution Process.
UA Foundation training on the fund request process will run periodically through June 27. You can sign up for these sessions here.
Additional training sessions on the Foundation Fund Expenditure Accounts, which is the Banner side of the process, will be announced very soon.
For more information, please visit the FFEA website or contact Tlisa Northcutt or Carrie Santoro at the UA Foundation.