Foundations Holiday Payment Request Schedule

Written by Emily Lowman.

Foundations Accounting & Investments (FAI) processes payments greater than $5,000 on a weekly basis from Foundation projects. Occasionally, university holiday closures require a modification to the regular payment processing schedule.

In general, payments less than $5,000 from foundation accounts can and should be processed through the university’s established processes and systems, such as through Accounts Payable or the Payroll Office. Exceptions to the $5,000 minimum and payments greater than $5,000 are processed by FAI on a weekly basis for signature by the assistant treasurer or treasurer of each foundation.

Generally, FAI must receive a completed Payment Request Form by Tuesday at 4 p.m. each week in order to be processed, signed and ready for release on Friday. Occasionally, holiday schedules necessitate a change to the regular schedule for payment requests and check/ACH processing. Below is the modified holiday schedule for the 2022 Thanksgiving and Winter Break holidays.

Thanksgiving: November 21-25, 2022

Winter Break: December 19-30, 2022

• The deadline for manual payment requests to be processed prior to Winter Break is close of business Monday, December 19. 
• Payment requests received by this deadline will be ready for release on Thursday, December 22.
• Payment requests received after the 12/19 deadline will be processed when the university reopens the first week of January and ready for release on Friday, January 6.

Additional information about FAI’s payment request process, including the payment request form, can be viewed on the Payment Request Overview & Payment Request Form page of FAI’s website.