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Minnesota State University, Mankato
Minnesota State University, Mankato

Foundation Accounting Frequently Asked Questions

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+ What's the difference between an "M&E" (or "State") account, and a Foundation account?

+ My department received a memorial gift and the donor wants to set up a new scholarship account. What next?

+ My department has a Foundation expendable account. How do I find out how much is in there?

+ M&E accounts require contracts for purchased services. Do I need a contract to purchase services with a Foundation expendable account?

+ Can I use my Foundation expendable account for anything at all?

+ No pizza parties?

+ Flowers?

+ How about admission for my partner/spouse for the Foundation Gala, or any event I have to attend for my job at the University?

+ Can I spend the funds on gifts?

+ My department wants to have a silent auction and put proceeds into our Foundation account. What next?

+ I'm responsible for awarding our department's annual scholarships to students. How and when do I know how much is available?

+ My question is not on the FAQ list.