Financial Procedures for Tulane International, LLC (TILLC)

1. Financial Proceduresfor Tulane International, LLC (TILLC) February 2010 Presented by: Tanya O’Rourke & Wade Wootan

2. Objectives of Presentation • To better understand: • The purpose of TILLC in-country bank accounts • Procedures, staff responsibilities & deadlines for requesting TILLC reimbursements for international expenses • Required documentation & format to substantiate TILLC reimbursements

3. Handouts • Wiring Funds to TILLC In-Country Bank Account (TILLC Policy & Decision Tree) • TILLC Wire Transfer Form • Check/Wire Requests to Pay TILLC Vendors (TILLC Policy & Decision Tree) • TILLC Request for Payment Form • TILLC Reconciliation Report (re. in-country bank account)

4. International Activity:Who are the Players? • Tulane University • TILLC • IRG

5. What is TU’s role? • TU enters into agreements with sponsors (i.e., grant, contract, cooperative agreement) • Responsible for academic, technical & programmatic component • Ultimately responsible for compliance with award terms and conditions

6. What is TILLC’s Role? • TU organized TILLC as a legally distinct business entity to limit TU’s potential liability abroad through TILLC’s furnishing of administrative, management, monitoring and support services related to sponsored activity awarded to TU overseas. This is done through a Master Agreement for Purchased Services between TU and TILLC • TU is the sole member (i.e., owner) of TILLC. TILLC has its own tax ID #, officers, directors, policies, forms, bank accounts, etc • TILLC legally can open its own bank accounts, hire its own staff, contract on its own behalf, etc., all in furtherance of TU’s sponsored activity abroad

7. What is the IRG’s Role? • The IRG is a TU committee formed to facilitate and centralize the decision making and approval process related to the administrative component of sponsored & unsponsored international activity • Excluding international academic activity • IRG members include representatives from critical TU administrative areas • A vehicle for process improvement

8. Handling of International Expenses • Question: When is TILLC responsible for paying an expense, as opposed to TU?

9. Answer: • Expenses, such as in-country registration and the associated legal fees, which cannot be charged to a TU grant account or operating account must be paid by TILLC’s US bank account. • Look to TILLC policies & forms • If TILLC is registered in a foreign country and has an operating bank account in that country, most in-country expenses should be paid through the TILLC bank account. If all or some of the expenses are reimbursable by a TU sponsored award or operating account, TILLC will bill TU for the expenses, which will be charged to the various TU accounts. • Look to applicable TU policies & forms • Large purchases, such as vehicles, must be purchased through TU’s Purchasing Department. • For guidance on how a large expense should be processed, contact an IRG member.

10. In-Country Bank Account • If Tulane has an in-country bank account, it will be set up through TILLC. Prior to opening an account abroad, TILLC typically is required to register to do business in that country. • TILLC bank accounts are not program or project specific. They theoretically can support all Tulane activity in that country. • Monies are wired from the TILLC Whitney bank account to the TILLC in-country account. Reconciliation after-the-fact resolves whether the expense is charged to an award or not.

11. Focused Review of TILLC Financial Procedures Wiring Funds to TILLC In-Country Bank Account and Recording the Expenses on the TILLC books and the Tulane University books • 9-Step process (see attached Procedures) • Wire Transfer Form

13. Focused Review Check/Wire Requests to Pay TILLC Vendors Abroad • 7-Step Process (see attached Procedures) • Request for Payment Form

15. Required Documentation & Format • Bank Reconciliation Report (example) • Attach all supporting documentation to the Reconciliation Report • Attach proof of exchange rate for the month

16. Questions?