What is a working fund?
A working fund is an advance to an individual (Texas A&M University/Texas A&M Engineering Experiment Station employee) from TEES funds for a specific purpose and must be repaid with TEES funds.
How do I request a working fund?
Complete the Temporary Working Fund Request. The custodian and the department head must sign the form. Send completed form to TEES Fiscal A/R at teesar@tamu.edu. Please allow at least five working days for processing a request.
A receivable will be set up under the custodian’s name once the temporary working fund has been approved, so the custodian must have an A/R customer number. The custodian must be familiar with System Regulation 21.01.11. This AR number must be entered as the invoice number when paying the working fund back. Past due working funds are subject to being taxable to the custodian at 90 days from the working funds completion date.
Once Accounts Receivable (A/R) has set up the receivable, an email will be sent to the custodian and departmental contact with the AR number assigned to the working fund and notification that the form has been sent to Accounts Payable (A/P) for processing. A/P will process within three business days with the disbursement date of seven calendar days before the “working funds start date” from the form. The custodian will receive the funds by check or ACH, based on what they have set up in Workday for “expense” (Fiscal Office) disbursements.
Funds must be kept safe and secure. The person responsible for the funds must ensure the funds are safeguarded from theft and loss. The funds cannot be used for personal gain.
How do I repay the working fund?
By the “Date Due to TEES Fiscal” on the request form, an AggieBuy non-PO invoice needs to be created to substantiate the working fund. AggieBuy supplier invoice number must be the AR number that was emailed to the department after the request was approved. The AggieBuy vendor is Texas A&M Engineering Experiment Station (select the remit to address of “Working Funds”). This VID is X0101448024. The invoice is set to pay TEES since a department account is being used to return funds to a TEES clearing account. The backup in AggieBuy must include a copy of the original approved Temporary Working Fund Request form.
A spreadsheet listing all expenses, along with a receipt for each purchase of goods or services must be submitted with the document. If participants were given cash, each participant must sign for the amount received (if human subject payments, use the logs available on the VPR website). On purchases where a receipt was not provided, the custodian must certify on the voucher what the money was used for and why a receipt is not available. It is possible that this amount would become taxable to the custodian. The voucher amount does not have to equal the entire working fund balance. Multiple vouchers can be submitted and/or unused funds can be returned. However, make sure that the entire working fund has been resolved by the due date.
How do I return unused funds?
Custodian should submit unused funds to TEES Fiscal A/R by personal check. A departmental bookkeeper will send a personal check and deposit slip marked with TEES working fund AR number to TEES Fiscal AR following typical cash handling procedures.
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