Understanding the reporting requirements for foreign source gifts, contracts, and other revenue-producing activities is crucial for maintaining compliance with federal and state regulations.

This portion of the book discusses the requirements for reporting on foreign source gifts, contracts, and revenue-producing activities. The information in this section will provide departments with a general understanding of the federal and state reporting requirements, as well as fiscal officer and unit-level expectations. From an accounting perspective, it is essential to accurately report these transactions on the income statement to provide a clear and transparent view of Indiana University’s financial activities. Properly documenting and disclosing revenue from foreign sources ensures that IU remains in good standing with regulatory authorities, mitigates the risk of non-compliance penalties, and upholds the integrity of the financial reporting process. By understanding the importance of accurately reporting revenue from foreign sources, employees can contribute to IU’s overall financial health and compliance efforts.

Policies

Review the below policies related to foreign source gifts, contracts, and revenue-producing activities:

• FIN-ACC-40: Charitable Gifts to Indiana University
• FIN-ACC-45: Donor Intent Responsibilities
• FIN-ACC-55: Foreign Source Gifts, Contracts, and Revenue-Producing Activities
• FIN-TRE-90: External Agency Agreements
• FIN-TRE-100: Signature Authority and Delegation
• FIN-TRE-110: Accepting Electronic Payments
• FIN-TRE-120: Processing Revenue
• FIN-TRE-121: Establishing and Modifying Revenue-Producing Activities (RPA)
• FIN-TRE-180: IU-Held Endowments and Quasi-Endowments
• UA-18: University Records Retention and Disposition

Standards

Review the below standard related to foreign source gifts, contracts, and revenue-producing activities:

• UCO-REV-9.00: Foreign Source Gifts, Contracts, and Revenue-Producing Activities

CheckLists

There are no checklists related to this portion of the book at this time. Please check back in the future!

Training Materials

There are no training materials related to this portion of the book at this time. Please check back in the future!

Other Related Material

Review the below other materials related to foreign source gifts, contracts, and revenue-producing activities:

• Template: Foreign Source Section 117 Reporting Template
• Template: Foreign Source CHIPS 10339B Reporting Template
• Template: Foreign Source HEA 1179 Reporting Template

IU Financial System Reports and Procedures

There are no IU financial system reports and procedures related to this portion of the book at this time. Please check back in the future!