ISU Policies and Procedures ISU Home | A to Z Listing of Web Sites | Search
Home |

Part 5. Financial Services

Section I. Business Office

B. Accounts Payable

1. General

Accounts Payable is responsible for processing payments for purchases of goods and services that require the submission of requisitions to the Purchasing Department and the issuance of purchase orders (see Purchasing).

Accounts Payable also processes a wide variety of transactions that do not require formal procurement procedures. Invoices reflecting such transactions are paid on a variety of other official forms (e.g., Travel Reimbursement Requests, Moving Expense Reimbursements, Independent Contractor Payment Requests, etc.). The departmental requisition may also be used as the authorizing payment document, with invoice attached.

2. Authorization to Pay

Purchase orders are processed for payment by Accounts Payable upon receipt from the Purchasing Department. Processing is initiated only after accompanying documents have been signed by an authorized party. Unsigned documents will be held in the Purchasing Department pending signature.

3. Payment Processing Schedule

a. Payment by I.S.U. Check

Checks for payment of invoices received and processed during a Monday-Friday work week are printed on the first working day of the next week, and are available for distribution by Accounts Payable the following day. Special check runs are scheduled each registration period so that financial aid is available in a more timely manner. This special schedule is coordinated with the Office of Financial Aids.

b. Payment by State Auditor’s Office (DA-8)

Documents for processing payment by the State Auditor’s Office are transmitted to the State weekly. State warrants are issued and mailed directly to the vendor from Boise. This payment cycle is usually one week longer than payment made by I.S.U. check.

4. Payments not Requiring a Purchase Order (not all inclusive)

a. Fees to outside consultants and honorarium payments (see “5” below).

b. Moving expenses of employees (State Board approval required if the total amount exceeds $10,000, see Moving Policy).

c. Recruitment expenses (see Recruitment Policy).

d. Dues, memberships, or subscriptions (see Memberships).

e. Student scholarships, fellowships, stipends and loans (see “6” below).

f. University promotion expenses.

g. Travel expenses (except in the case of group travel — see Travel Regulations).

h. Utility bills.

i. Linen and laundry.

j. Interdepartmental sales and services (processed upon receipt of billing from providing department, i.e., motor pool, stores, bookstore, etc.).

k. Library orders.

5. Honorariums/Consulting Fees (paid to individuals, excluding ISU employees)

a. Payments may be made for lecturing, speaking, and consulting upon completion of the Independent Contractor Payment Request. Please note that all payment requests must include the individual’s Social Security number. These payments are subject to reporting to the Internal Revenue Service on a Form 1099.

6. Student Scholarship, Fellowship, Stipend and Loan Payments

a. Authorization

Checks are issued upon receipt of authorization from the appropriate campus department (i.e., Financial Aid, Applied Tech, Student Affairs, Athletics, Office of Graduate Studies & Research, etc).

b. Disbursement

(1) Disbursement of scholarships, fellowships, stipends and loans is made only after verification of eligibility, which may include completion of fee payment enrollment in the proper division or school, enrollment for the proper number of credit hours, etc.

(2) Disbursement may be contingent upon the student’s good financial standing. In the event that the student owes outstanding fees, fines, or loans, he/she may be required to apply financial aid awards to clear these debts. Alternate rules may apply for Title IV Federal Aid funds.

(3) Disbursement of student loans also requires that the student complete a promissory note and other forms necessary to comply with various loan requirements.

7. Information Availability

Accounts Payable has on-line computer look up capabilities to verify purchase order/invoice processing and final payment information for the current fiscal year. To verify payments made to vendors in previous fiscal years, microfiche information is available.

Original invoice documents for the current year plus five (5) previous years are available for departmental, internal audit, and external audit review. Records are restricted to review by authorized University employees or approved external auditors, unless access is specifically requested through the appropriate administrator (see Public Access to University Records).

[ Table of Contents ] [ Back to Part 5 ] [ Back to Part 5 Section I ] [ Previous Section ] [ Next Section ]