Foundation Funds
Basic Gifts (BG) Accounts vs. Foundation Funds
Basic Gift (BG) accounts are University funding sources in Workday which are treated like any other state-funded account. All normal procurement rules apply. BG accounts can be established from any donor. The LSU Foundation is one of those “donors”. When a basic gift is received, the revenue is put into the BG account. The LSU Foundation’s account works a little differently…funds are not received until after they are expended. At the end of the month, the foundation sends one lump sum payment to “reimburse” the university for all foundation BG accounts.
“Foundation Funds” (formerly source F accounts in legacy) cannot be found in Workday. These funds are managed by the LSU Foundation directly. Foundation purchases are typically made with a credit card issued by the LSU Foundation or by submitting invoices to the LSU Foundation to have a check issued.
For information concerning these procedures, the LSU Foundation Development Services Office (225-578-3811) should be contacted.
Rev 7/31/24