Procedures for Awarding USF Foundation Scholarships

The College of Arts and Sciences (CAS) has approximately 150 scholarship funds with the USF Foundation. These funds are to be utilized by the following specific criteria.

• Scholarships are to be in compliance with the purpose and restriction set forth by the donors.
• Scholarship award selection criteria should be consistent with criteria documented in donor agreements.
• Scholarship payments must be signed by a Foundation authorized signer who, in addition to approving the award, is also certifying the criteria above.

As we have been commended for administering the numerous awards from over one hundred funds, we have also managed to remain in compliance with donors’ intent and policy. We have, however, been deficient in the approval and authorization process. During our 2008-2009 internal control audit, there were a few instances where scholarship payment requests were signed by unauthorized signers and/or exceeded the authorized signature level for the expenditures.

To correct prior year audit deficiencies, we will be implementing a policy that will require all departments to send scholarship payment requests through the CAS Dean’s office, which will review all requests to ensure proper authorization prior to submission to Financial Aid for posting. This policy will take effect immediately.

Frequency: As Needed

To successfully award a USF Foundation Scholarship:

1. Review the purpose and restrictions set forth by the donor. This can be reviewed in Banner.
2. Properly select criteria consistent with the donor agreements and market the scholarship to allow for appropriate student participation.
3. Ensure that participants meet the selected criteria in item number two.
4. Utilize appropriate procedures in selecting the award winner from the participants.

To successfully complete the Financial Aid Scholarship Payment Request Form

1. Obtain form from the Financial Aid website, see link below.
2. Scroll down to the Payment Request Form and click the appropriate year; save as necessary.
3. Complete all of section A. Note: make sure you have the proper Financial Aid Fund Code. If you are unaware of this code, please use the contact list below.
4. Complete section B as necessary. Note: a UID# is required.
5. List any special instructions in section C. All forms must be signed by an authorized signer for the awarding fund. Please write legibly.
6. Forward original document to the dean’s office; CPR 107 Attn: USF Foundation Scholarship Approval.
7. Please keep a copy on hand for your reconciliation process. See Scholarship Reconciling link.

Name: Title: Department:

TBA Accountant College of Arts & Sciences Dean's Office

Campus Address: Phone: E-mail:

CPR 107 (813) 974-3384 martina1@usf.edu

Financial Aid Website: http://usfweb2.usf.edu/finaid/finaidportal/docs.html