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Foundation Payment Requests

In general, payments less than $5,000 from foundation accounts (ledger 6) can and should be processed through the university’s established processes and systems (i.e. NCSU1 Accounts Payable or the Payroll Office).

In order for Foundations Accounting & Investments (FAI) to process payments of less than $5,000, documentation will be required from the University Accounts Payable Office or Payroll Office, as applicable, indicating that they are not able to process payment. Additionally, items such as moving expenses and travel reimbursement requests should always go through university channels.

Voucher Entry
Payments (via check or wire) are processed on a weekly basis.  In general, an approved voucher (business unit NFDN1) must be received by Tuesday at 4 p.m. to be processed within the same week.  Wires are completed by COB Thursday; checks are typically ready for mailing or pick up by Friday.  Any questions should be emailed to faipaymentrequest@ncsu.edu.  Please note that incomplete requests will be returned with missing/corrected items noted; revised requests received after the deadline will be processed the following week.

The following are required for each voucher to be considered complete:

-A valid vendor record, PaymentWorks connected when possible, with an appropriate mailing address, to match the invoice.

-Adequate funds are available in the project.

-The disbursement is consistent with the purpose of the project.

-Goods or services must be received before payment is made.

-Appropriate documentation is included, as follows:

-Invoices must be billed to the foundation. Invoices billed to the University or a
University department are not appropriate for payment by a foundation.

-The invoice must contain a unique invoice number.

-If applicable, a formal presentation of vendor banking information must be
included.

-If applicable, contract(s) associated with the delivery of goods and services
should be attached.