Selling Departments and Service Center Operations
Effective: Moved to Policy Library from UPM 11.1(2)
Contact: Financial Accounting and Reporting
In order to provide for proper financial controls the selling departments must comply with established fiscal management guidelines.
Authorization and Rates
In-house operations that provide goods and services are called service center operations. Authorization must be obtained from the Controller's Department (Financial Accounting and Reporting Office) before engaging in a new service center activity. Service center operations must follow established guidelines for rate development as well as procedures for doing business both on and off campus. In addition, rates must be reviewed at least annually and adjusted if necessary.
Internal ("Intramural") Sales
Sales of goods or services to other university departments or accounts within the university system are intramural sales. All intramural sales, including those to grant accounts, are considered internal sales.
External ("Extramural") Sales
Sales of goods or services to external or non-university customers are extramural sales. Students and employees of the university are considered to be external customers when purchasing goods and services for personal use. All external sales should be processed through the ISU Receivables Office except when payment is collected at the point of sale.
University Receivables (UR) System
Departmental non-cash sales and billable services to students, employees, and other external customers must be entered into the University Receivables (UR) System for billing and collection.