The Business Purpose Guide has been updated to enhance and clarify the requirements for a business purpose on all financial transactions, making it easier for users when completing their documentation.
The updates include:
- Revised definition of a business purpose to ensure all expenses are appropriate and serve the goals and objectives of the University.
- Additional verbiage stating a business purpose must be provided on ALL financial documents.
- New section containing information regarding the Arizona Auditor General request for written information to justify the public purpose served of an expenditure and Arizona Constitution Article 9, Section 7 regarding public funds.
- Clarified where the business purpose details should be located/documented within UAccess Financials.
This updated reference tool is not reflective of a policy change. We recommend however that approvers, reconcilers, or individuals making purchases or initiating services on behalf of the University review this revised guide to avoid delays in transactions within the financial system.
For questions, please contact Accounts Payable at 520-621-9097 or accts_pay@fso.arizona.edu.