703 Consultant and Professional Services
Consultants and professional services must be authorized, negotiated, and documented by the department chair and dean
and/or vice chancellor prior to the utilization of outside professional services. These individuals must ensure that the desired
professional services are not available internally through other Troy departments and/or personnel, and that funding is available
within the department budget to cover the cost of these professional services. A consultant/professional services agreement
must be completed as documentation of the service agreement.

The dollar amount of the consulting agreement will dictate the level of required signatures. A sample consultant agreement can
be found under the "Forms" section of www.troy.edu/financialaffairs/. Consultants must also have a signed W-9 form on file in
the Controller’s Department before they can be compensated.

Troy University employees can not be paid as consultants. They also cannot be paid through the Troy University
They must be paid as employees through the Troy Human Resources Payroll department. The Consultant form
can not be used to pay a Troy University employee. Either a Payroll action (PA) form or Employee Supplemental pay form must
be used.

To request payment for consultants or professional services, the department chair must submit a Check Request to the
Accounts Payable Department. A copy of the approved consulting agreement must be attached. Payment can not be given
to the consultant before work of a satisfactory nature is performed.

Payments made to these individuals are processed through the routine General Fund cash disbursements, and are not payroll
checks subject to deductions. These individuals are considered to be self-employed and are responsible for all taxes relating to
these payments. An IRS Form 1099 will be processed for any individual who is not a Troy University employee, and who
received payment(s) totaling $600.00 or more during a calendar year.

704 Approval Levels for Capital Projects
The following authorization levels have been established for campus capital projects.
705 Financial Accounting and Reporting
Financial Accounting and reporting shall be consistent with the principles and guidelines set forth in College and University Business Administration, published by the National Association of College and University Business Officers, and Audits of Colleges and Universities, an industry audit guide published by the American Institute of Certified Public Accountants. The following practices shall be adhered to in reporting to the Board: Assets shall be capitalized in accordance with Board-approved capitalization policies. The Board authorized a change in threshold to $5,000 beginning October 1, 2001.

705.1 Petty Cash Funds

Petty cash funds are available at the Cashiers' Windows to cover purchases of small emergency items and small non-recurring items costing less than $100.00 per day, per account. This fund is not intended for use in lieu of normal purchasing procedures.

Reimbursements may be requested at the Cashiers Windows during normal business hours. The department chair/director's authorization, the sales slip, and the account number to be charged should be presented to the Cashier, with the items purchased clearly identified on the invoice.

Working cash funds may be assigned to Troy departments which conduct sales and/or rental activities which require the collections and/or exchange of cash funds. A department may request a working cash fund by submitting a Check Request Memorandum to the Senior Vice Chancellor for Finance and Business Affairs, giving justification for the fund and the length of time needed.

Petty Cash and Working Cash Funds shall be maintained efficiently and securely. Each department chair/director is responsible for establishing procedures for the collection and maintenance of University funds within the department. Petty Cash and/or Working Cash Funds must be available upon request for immediate audit by the Controller’s Department or the Alabama Examiners of Public Accounts. All collections including cash, checks, and money orders must be deposited with Student Financial Services no later than the next business day.

705.2 Gifts, Donations, Endowments, and Trusts

Gifts, donations, endowments and trusts contributed to Troy University will be handled according to donor instructions. Typically these items, when possible, are routed through the Troy Foundation. For acceptance and handling of gifts to TSU Foundation, see policy section dealing with Troy University Foundation.