Financial Policies Training:
Non-Monetary Exchanges (2.1.12)
Effective: May 1, 2009
These PowerPoint slides are intended for training purposes. In
the event of any discrepancy or interpretation difference
between the policy and the slides, the policy dictates.
Non-Monetary Exchanges (2.1.12)
Topics:
What are non-monetary exchanges?
Why is a policy needed?
What are the policy requirements?
What types of exchange agreements can UC
enter into?
What is needed for accounting purposes?
Non-Monetary Exchanges (2.1.12)
What are non-monetary exchanges?
The exchange of
goods, services or use of fixed assets
for other
goods, services or use of fixed assets
Can be similar or dissimilar
Also called “barter transactions”
Non-Monetary Exchanges (2.1.12)
Why is a policy needed?
To ensure appropriate
Approvals
Accounting
Value to UC
Non-Monetary Exchanges (2.1.12)
What are the policy requirements?
Business purpose
Equal value
Approval
Exchange valued < $1000
Dean/org unit head
In writing
Exchange valued ≥ $1000
Purchasing; in conjunction with General Counsel if
needed
No pyramiding to bypass this approval
Non-Monetary Exchanges (2.1.12)
What types of exchange agreements can
UC enter into?
UC can provide services to another entity in
exchange for goods, services or use of fixed
assets
UC can provide use of fixed assets to another
entity in exchange for goods, services or use of
fixed assets
Non-Monetary Exchanges (2.1.12)
What is needed for accounting purposes?
Fair market valuation of the goods, services or
use of fixed assets
All documentation to Controller’s Office
Non-Monetary Exchanges (2.1.12): Resources
Financial Policies web site:
www.uc.edu/af/policies
The Policy (2.1.12):
www.uc.edu/af/documents/policies/nonmonetary.pdf
Policy questions e-mail:
policyquestions@uc.edu