FundSvcs Community

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  • 1.  Policy for Prepaid Items

    Posted 08-29-2023 06:37 AM

    Good Morning,

    I'm new to AASP, so I'm still trying to figure out which communities are best to be a part of. I oversee Finance and Information Services at our Foundation. I'm looking to find examples of policies regarding when to record prepaid items versus expensing them. I'm seeking to put together a policy with a threshhold in order to increase our efficiencies in this area. So far I've seen a handful of policies with a $1k thresshold. I'd like to go higher than this, but I realize it really depends on the organizations assets as a whole. I would welcome any feedback or sample policies others may have. 

    Thank you,



    ------------------------------
    Stacy Robinson
    University of Northern Iowa Advancement
    stacy.robinson@uni.edu
    ------------------------------


  • 2.  RE: Policy for Prepaid Items

    Posted 08-29-2023 08:12 AM
    Welcome to aasp - and to the FundSvcs listserv! Both are great communities, and I hope you can take advantage of our resources! Also, aasp Summit is in Chicago in late September - I hope you can join us!

    There are very few questions you won't get answers to in FundSvcs. However, this list is focused primarily on advancement services topics and less on finance and accounting. Although many subscribers dabble in both areas, so maybe you will receive an answer to this question here.

    However, there is a CASE listserv more suited to finance policies and foundation issues. It is dedicated to College and University Foundation offices:


    While not nearly as large as FundSvcs (only 882 current subscribers there compared to the several thousand on FundSvcs), its focus might be more helpful in addressing this question.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


  • 3.  RE: Policy for Prepaid Items

    Posted 08-29-2023 08:54 AM
    Thank you for this information!




    Original Message


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