An agency account is a budget number in the University's Financial Accounting System (FAS) for resources held by the University for non-University users. (NOTE: UW does not maintain agency accounts for activities funded by a grant or contract. Contact Grant and Contract Accounting to set up these budgets.)
To set up an agency account:
- Download and complete a Request for Agency Account form.
- Get the approval of appropriate UW officials. (For example, dean or vice president).
- Send the completed form to the Agency Account Desk, Financial Reporting, Box #351120, or email it to firstname.lastname@example.org.
- Financial Reporting will send written approval of your account.
- Open your account by depositing not less than $500. The University does not pay interest on deposits.
- Maintain your account:
- Keep your account current (make sure the charges are reimbursed promptly - within 30 days).
- Remember the specific purpose for your account (you stated it on the form and Financial Reporting approved it) and get written approval from Financial Reporting before you deviate from that purpose.
- Overhead is charged to all agency accounts except for those exempted by the budget office.
- The overhead rate is applied to expenditures.
- The overhead rate will be periodically adjusted by the Office of Planning and Budgeting.
- Agency accounts are expected to make only a minimal amount of outside purchases.
- All outside purchases by the University of Washington, including those made by Agency accounts, must be made in accordance with the statutes of the state of Washington.
- Only the Procurement Department is authorized by the University of Washington to make commitments to suppliers on orders greater than $3,000, including those made by Agency accounts.
No salaries or wages may be charged to any agency account unless:
- the salaries or wages are paid to people who are already permanently employed by the University, or
- the salaries and wages are paid to part-time temporary employees, or
- the Agency and the University have signed a formal contractual agreement allowing salaries or wages to be charged.
Non-compliance with any of the above provisions may result in the termination of agency account privileges.
Please send your comments and questions to:
- Financial Reporting at email@example.com, or 206-221-7845.