On Friday, Oct 28, the OUC (including the FinPro Help Desk) will be closed 11:30 a.m.-5:00 p.m. for a staff event.
University Sponsored Fundraising Events
Updated Fundraising Authorization Form (NEW)
To initiate a campus-sponsored fundraising event, Organizational Units should use this newly updated Fundraising Authorization form (eff. 10/1/16) The form acknowledges campus approvals for the event. Please note, the Boulder campus has a different alcohol approval process, requiring a UCB approval signature on the FA form. The UCCS and UCD campuses capture this signature approval in their campus Alcohol Authorization form. UCD & UCCS events with alcohol should attach the approved FA form when submitting the Alcohol Authorization form to your campus approver. Please also see the Fundraising Events and Alcohol Approval section below.
Fundraising Events & Cvent (NEW)
You may have heard of, or anticipate using, the University’s new Cvent event management tool for your fundraising event. Salesforce/MarketingCloud/Cvent are a suite of web-based tools for email marketing and event registration; for more information please see https://www.cu.edu/ecomm . Access to these tools requires a license (by user, not Org Unit), along with associated fees.
For Fundraising Events, if you have a license and are using Cvent, you will still need to initiate the event with a FA form. Also, an approved FA form is required in order to set-up your event in Cvent. It is important to use the new FA form (eff. 10/1/16). The fundraising event business process in Cvent has a different payment path for your event revenues, and requires OUC coordination with the CU Foundation, as event revenues will be directed to the CU Foundation. The business process for fundraising events is quite different in the Cvent environment, please contact Karen Ichiba, firstname.lastname@example.org, if you are planning to use Cvent or would like more info about this tool. Please also see the Resources Before the Event side box for additional Cvent information.
Fundraising Events, Monies to a University Gift (fund 34), Deposit Procedures (NEW)
If your event is using a 3rd party registration vendor and/or depositing event revenues to the University, gift deposits to the University now require a little bit more information/documentation than in the past. The System Office of Advancement Accounting is now responsible for the University’s Gift Clearing function for all fund 34 activity. The University is transitioning our gift business processes and coordinating with Advancement and CU Foundation offices to better serve our donors and also initiate more efficient gift deposit procedures for our Organizational Units.
Org Units should follow regular campus deposit procedures using the Cash Receipt form (Deposit to: Anschutz – OGC, UCB – Bursar, UCD Downtown – UCD Finance Office, UCCS – Bursar). In addition, you will need to send detailed donor information to SYS Advancement Accounting, Advancement.Accounting@cu.edu , contact person: Kris Milanak. Advancement Accounting will verify gift monies in the campus Gift Clearing ST and (1) move monies to your identified gift fund 34 ST, (2) enter donor information in the CU Foundation Advance database, and, (3) send info. to CUF to generate the gift tax receipt; using the University’s name in the receipt. (This process is not for those events using Cvent, see above info.)
- Name of donor
- Company Name (if applicable)
- Total $ amount of payment
- Fair Market Value $ amount (if applicable)
- Date of payment
- Type of credit card used (Visa, MC, Amex, etc.)
- Event Speedtype & account code (if not on Cash Receipt form)
- Redact all bank info. on checks
Revised Sales Tax Procedure for Auctions (NEW)
Effective immediately, sales tax for tangible auction items should be calculated based on the lessor of purchase bid price or Fair Market Value of the item. Please consult Karen Ichiba, Karen.Ichiba@cu.edu or your campus sales tax contact (below), if you have any questions.
In-Person Fundraising Event Compliance Training
The Office of University Controller now offers a more customized approach to assist Organizational Units in conducting a fundraising event. Org. Units may set up a training session with the Fundraising & Gift Compliance Specialist that can focus on a specific topic/issue, planned upcoming event, or a general session to discuss what you need to know to conduct a University sponsored event.
Fundraising Events and Alcohol Compliance
The Office of University Controller primarily monitors material fundraising events for financial compliance. Additionally, we review the compliance of the purchase and provision of alcohol for your event. Your campus is responsible for alcohol signature approvals; both for the purchase of, and the provision/serving of alcohol at your event. These policies/procedures are campus-specific. Each campus has recently reviewed and revised their alcohol policies/procedures. If you are serving alcoholic beverages at your event (University purchase, cash bar, or donation of alcohol), please contact your campus Risk Management office to determine if your event complies with all state/local regulations and campus specific policies/procedures. The University Risk Management website contains campus specific information, along with general guidance for serving alcohol. https://www.cu.edu/content/alcoholcampus
Fundraising Events and Alcohol Approval
To activate a fund 34 SpeedType for a fundraising event, the approved campus alcohol form must now be submitted along with the Fundraising Authorization (FA) form. Each campus has developed a specific Event with Alcohol questionnaire/form.
For more campus specific alcohol approval information, select a campus tab below:
All on campus and off campus events with alcohol are required to complete the Event with Alcohol Authorization Form http://www.ucdenver.edu/about/departments/finance/Pages/Forms.aspx
The approved Event with Alcohol Authorization Form is signed by the CU Event Coordinator, the Dean/Officer for your Org. Unit, and the Campus Alcohol Approver. Your campus Alcohol Approver is Shaun McMullin, Deputy Campus Controller, UCD Finance. The approved Fundraising Authorization form should be submitted with your Alcohol Authorization form to your campus approver. Please also submit a copy of your approved Alcohol Authorization form to Karen.Ichiba@cu.edu
On campus and off campus (non-licensed venue) events with alcohol are required to complete the Boulder campus Event with Alcohol Authorization form. Please see the Event with Alcohol webpage, and also the very helpful interactive chart that will assist you in determining the kind of event you are conducting and what process you will need for the provision of alcohol at your event. http://www.colorado.edu/events/plan/alcohol
The approved Alcohol Authorization form is signed by Campus Police, Risk Management, and the Campus Alcohol Agent. For fundraising events using University funds to purchase alcohol, the designated Alcohol Approver on your campus is Kelly Fox, Senior Vice Chancellor and CFO, CU Boulder (FA form signature). Please also submit a copy of your approved Alcohol Authorization form to Karen.Ichiba@cu.edu
Note: Off campus UCB events at licensed venues do not need to complete the campus alcohol form. Events at restaurants, country clubs, hotels, etc., are assumed to be at licensed venues. Additionally, the OUC will verify for you the venue’s license in approving the FA form.
All events with alcohol are required to complete the UCCS Event with Alcoholic Beverage form. The designated Alcohol Approver on your campus is Carolyn Rupp, UCCS Campus Controller, UCCS Accounting Office. The approved Fundraising Authorization form should be submitted with your Event with Alcoholic Beverage form to your campus approver. Please also submit a copy of your approved Alcohol Authorization form to Karen.Ichiba@cu.edu
See UCCS policy 100-003, Alcohol Policy http://www.uccs.edu/vcaf/policies/uccs-policies.html The campus alcohol form is embedded at the end of the policy.
Fundraising Events and Sales Tax Compliance
Events with paid Admission/Registration Fees & Sales Tax Liability
If the University conducts an event that charges an admission/registration fee and the fee includes a meal/beverage to an attendee, then we cannot use our tax exemption status in purchasing the food/beverage. Taxing jurisdictions view this as “re-selling” the meal; we are getting reimbursed for the meal and we cannot “pass on” our tax exempt status to the attendee. This applies to all events that charge an admission/registration fee, not just fundraising events. So, Conferences , Official Functions, and Fundraising Events that are charging a fee and serving food/beverage need to pay sales tax on their food/beverage/catering services.
How do I pay the sales tax liability for food/beverage?
The easiest way to pay sales tax is to ask the catering vendor to add it to your invoice, whether that be by your procurement card or purchase order. For purchase orders or standing POs at $ 5,000 or over, it is the responsibility of the Dept./Org. Unit to let Jennifer Casanova, Purchasing Agent, Procurement Service Center, know the sales tax status of the event. Please let Jennifer know that you are charging an admission/registration fee, and that sales tax applies for your event.
For fundraising events, OUC sends the FA form to Jennifer Casanova, PSC, as a general FYI (which she matches up with her file of catering contracts), in addition, OUC reminds the event staff person to have their caterer apply sales tax to the bill (however they are paying, be it P card or PO).
Purchase Orders & Standing POs
Jennifer Casanova, Purchasing, PSC, manually flags the PO for sales tax payment. Accounts Payable (A/P) does not pay the invoice until Jennifer reviews to ensure sales tax has been added to the invoice, then approves total amount for payment by A/P (otherwise, A/P would automatically delete sales tax liability off the total invoice, since we generally do not pay sales tax). OUC & PSC re-engineered this business process; per regulation, vendors are required to pay the sales tax to the taxing jurisdictions. The Org. Unit pays the sales tax as part of the invoice/bill. Please contact Jennifer Casanova, Procurement Service Center (PSC), Jennifer.Casanova@cu.edu , for more information.
Fundraising Event Auctions, Merchandise Sales, and Sales Tax Compliance
Events that sell merchandise (e.g., t-shirts, water bottles, books, etc.,…) or conduct silent or live auctions as part of the event, are required to charge sales tax to purchasers of tangible items and remit the sales tax liability to their campus. Sales tax must be paid by the purchaser, and should not be imputed from total sales of your event. Sales tax for tangible auction items should be calculated based on the lessor of winning bid/purchase price or estimated fair market value of the item. No sales tax is charged for gift cards/certificates, services (dog walking, salon, etc…), only tangible items. Your campus sales tax contact can help you calculate appropriate sales tax rate and tax remittance procedures.
Campus sales tax contacts:
- UCD campus – Zac Gonzales, Finance Office, email@example.com, 303-315-0395
- UCB campus – Maggie Young, Accounting & Business Support, Maggie.firstname.lastname@example.org, 303-492-6375
- UCCS campus – Mary Lile, Accounting Services, email@example.com, 719-255-3703
- CU South Denver campus - Syed Rizvi, Accounting, firstname.lastname@example.org, 303-649-4025
Contact the OUC's Fundraising Events & Gift Compliance Specialist: