Allowable purchases on ASU Foundation accounts
Unless expenses incurred are philanthropic/cultivation in nature, or an exception to ASU policy, the spending needs to occur on the university side (through ASU Workday). This gets audited and will be rejected if not submitted through appropriate finance channels. (See policy reference FIN 401-04)
There are three categories for purchases:
- Program – processed through ASU
- Management – processed directly to ASU Foundation account
- Fund Raising – processed directly to ASU Foundation account
Foundation Credit Cards
The College policy does not approve individuals in units to have ASU Foundation credit cards. Foundation credit cards are very limited and approved only for units with a record of significant donor cultivation activities. Generally, that level of spending is specifically written into the donor agreement. We are not approving them for units to process transactions that are routine business. There are processes in place for these routine transactions.
Access to Foundation Workday
Your login for Workday is your asurite login credentials, which is email@example.com. Website to access Workday https://workday.asuep.org/
To request access to Workday:
- Send an email to Rebecca.Magana@asu.edu with your name, email address, and ASUrite requesting the Gift Financial Analyst Role for HR unit BXXXX. Gift Financial Analyst Role – Can view accounts and enter transactions. This is the only role that will be approved at a School level.
- Rebecca will start the role request process, which will generate an automated email to you containing a link. You will need to complete and sign the form online (previously known as the Database User Agreement).
The foundation business process does not allow for a separation of Gift Approver (level 1) and Gift Manager (level 2) approval. Because of this, all former level 1 approvers now have Gift Financial Analyst access. If you want an internal approval process, this can be done via email or another process within your units.
- Approval steps are: Financial Analyst enters transaction. Internal unit approvals are at this point.
- ASU EP reviews and approves or returns for correction.
- Routes to Gift Manager for review and approval.
- Routes to ASU EP for processing and payment.
If a document comes to the Dean’s Office for approval, we will assume it has been reviewed and approved at the Unit level.
ASU Foundation Accounts
The ASU Foundation is a separate entity from Arizona State University. The Foundation is a private, nonprofit organization that raises and invests private contributions for the University. The Foundation manages individual donations and major gifts. Funds raised by the Foundation can be used by the respective ASU units for projects and activities in accordance with donor intent.
Every Foundation account number is made up G and five digits (GXXXXX). Gift Classifications are: pooled spendable, undetermined, non-pooled, and investment. The Gift Fund Options are:
FD200 Pooled Quasi-endowments-Temporarily Restricted
FD240 Pooled ASU Quasi-Endowments-Temporarily Restricted
FD300 Spendable Gifts-Temporarily Restricted - Spendable Funds
FD320 ASUF Endowment Payout/Spending - Spendable Funds
FD340 ASU Endowment Payout/Spending - Spendable Funds
FD400 Pooled ASUF Endowments-Permanently Restricted
FD401 Endowment Pool Earnings/Reinvestment-Temporarily Restricted
FD440 ASU Pooled Endowments-Permanently Restricted
FD441 ASU Endowment Pool Earnings/Reinvestment-Temporarily Restricted
FD500 Non-Pooled Endowments-Permanently Restricted
All gifts subject to a 5% fee
A restricted accounts is a type of local account that is restricted for a specified purpose, usually indicated in the documentation or agreement used when the account is first created.
Scholarship posting in PeopleSoft
The timelines have changed slightly for the 2023-2024 Academic Year. Please note these changes and try to adhere as closely as possible. If you will not be able to meet these deadlines, let Rebecca Magana at Rebecca.Magana@asu.edu know as soon as possible. As best practice, we highly recommend using a scholarship tracking spreadsheet (template attached) to identify what funding is available, what has been promised to the students, and what you request. It can be modified to best suit your unit.
2023-2024 Academic Year
- Late February-mid March – Check foundation endowment account payouts, current available balance in endowed and non-endowed accounts used for scholarships, and ASU Workday item type balance report.
- April 1 – Deadline for scholarship selection
- April 24 – Deadline for Spring 2023 award posting and funding transfer requests
- April 30 – Deadline to send student award notifications, receive signed terms of agreement, donor thank you letters, etc.
- May 1 – Date you can begin submitting Summer 2023/Fall 2023/Spring 2024 non-endowed account only funding transfer requests.
- May 15 – Date you can begin submitting Fall 2023/Spring 2024 endowed account transfer requests. We have been asked by ASUF not to submit endowed payout funded requests prior to this.
- May 26 – Deadline to post Fall 2023/Spring 2024 awards in peoplesoft and submit funding transfer requests.
- June 1 – Deadline to post Summer 2023 awards in peoplesoft and submit funding transfer requests
- Mid-July – Endowment payouts process and funds transfer to item types
- Early August – Scholarship disbursement per Student Financial Aid timelines
- Mid-late August – Check scholarship detail reports and correct errors
Please have your Fall 2023 and Spring 2024 awards posted in PeopleSoft by Friday, May 26 to allow time for the College level review and approval.
Spring 2023 and Summer 2023 awards should be posted as soon as possible. Spring 2023 awards must be posted in PeopleSoft and funding transfers requested no later than Monday, April 24, prior to the end of the semester. Summer 2023 awards must be posted in PeopleSoft and funding transfers requested no later than Thursday, June 1.
As a reminder, students cannot receive scholarship awards if they are not enrolled in AT LEAST ONE credit during the award term. This is regardless of the enrollment required by the scholarship and/or any exceptional disbursement requests.
*There is a user-friendly Canvas course available that provides an overview of the three main processes associated with using the scholarship portal and DSP (creating a portal scholarship, pulling data from scholarship applications to select recipients, and posting new scholarships). The course is designed specifically for scholarship administrators and serves as a training guide and a quick reference resource during the scholarship cycle.
The Scholarship Administrator Training course includes all the major content areas. To enroll in the course, please follow this link https://canvas.asu.edu/enroll/H7KFNJ.
Thank you for your hard work in assisting students in their educational journey.