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Sponsored Funds Financial Management
(formerly known as Sponsored Funds Accounting)

State Accounting
 
Accounting |Introduction |Receiving and Payment | Newspaper Payments

Financial Procedures Manual: Receiving and Payment

Newspaper Payments

Various newspapers participate in a statewide contract that guarantees State agencies low rates.

The University has also negotiated a contract with Graystone, which provides advertising discounts that are an improvement over the statewide rates. This University contract should be mentioned when placing ads through Graystone. The University or statewide contract should be used whenever possible.

Graystone bills the University on a monthly basis. Graystone submits to the Accounting Office a bill and related documentation (tearsheets and account number) for advertisements issued in the prior month. The Accounting Office matches the tearsheets and billing information and charges the appropriate account for the advertisement. If department officials do not agree with the charge, they should contact the Accounting Office immediately.

This process applies only to Graystone. Other newspaper advertisement payments are coordinated by the individual departments. For each advertising charge, a tearsheet and completed requisition must be submitted to the Accounting Office to pay the newspaper for the services provided.

Regardless of vendor, all advertising charges will be assigned sub-object code 5839.

 


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