Financial

In order for expenditures to be paid from university funds, costs must be allowable, appropriate, and properly documented. What does this mean?

See Expenditures within the Policy Library for answer.

What hospitality costs are considered allowable? Do additional requirements apply to hospitality expenditures?

See Hospitality within the Policy Library for answer.

Are non-university funds or "agency funds" subject to all ISU allowability and appropriateness policies?

See Non-University or Agency Funds within the Policy Library for answer.

Are you aware that Iowa State University is exempt from paying state sales tax on goods or services purchased in the state of Iowa?

Ideal answer: Yes. See Sales Tax Information on the Purchasing Department website.

Are you aware that Iowa State University has a conflict of interest policy regarding purchases from faculty or staff?

Ideal answer: Yes. See Conflict of Interest Vendors/Employees within the Policy Library for information.

Should university fund accounts maintain a positive cash balance at all times?

Ideal answer: Yes. See Cash Balances in Fund Accounts within the Policy Library for information.