Special Purpose Account Guidelines
Special Purpose accounts are NOT research accounts. Special Purpose Accounts are to be used for the following types of activities:
- lab services or other service agreement activity
- Special purpose accounts must operate in a cash balance situation. Exception: 'service agreement' accounts which are based on a formal contract requiring invoicing based on expenditures incurred.
- Subject to all University guidelines and policies.
- Funding must be spent on the specific purpose for which the account is established.
To have a special purpose fund establish:
- Application form must be completed
- Must be assigned to an academic or administrative unit
- Applicant must be a Faculty Member or Senior Management level
- Conference applications must submit a budget for review by the Manager of Accounting to assess whether HST is required to be charged on registration fees
- For account applications related to a service agreement contract, a copy of the contract is also required.
- Account will not be opened until a deposit or journal entry transfer is provided by the applicant. Exception: service agreement account for which there is a formal contract agreement.