Post-Award Focus: Developing Good Business Purposes for Transactions

Units are reminded that Financial Services requires clear documentation of the public purpose served by every ASU expenditure as a way to fulfill ASU’s fiduciary requirements outlined in FIN 119: Public Purpose Served.

To help units develop audit-ready business purposes to include with their transactions, we want to share the KE Financial Services Public Purpose Guide. This guide was developed by KE Financial Services for internal use, but was approved for use by ASU’s Financial Services (on 01/06/20) and ORSPA’s Fiscal Oversight (12/19/2019). Units are highly encouraged to adopt this guide for both sponsored and non-sponsored transactions.