It is important to know your budget before starting to plan an event. You don’t want to spend your time on something that will not pan out because it is too expensive. Don’t forget to budget additional money for unforeseen items in your miscellaneous category. Evaluate what your needs are including but not limited to the items listed on the sample budget estimate.
When doing your budget, make sure you don’t forget tax, service fee and delivery charges. Always include some miscellaneous cost for unexpected expenses.
Keep in mind if the cost of food for your function exceeds $40/person, including tax and gratuity, you need to get Dean’s approval.
ASU Procurement quick reference guide
Purchases under $10,000 without a PCard:
- When a vendor does not accept PCards or the department does not have a PCard, use a requisition.
- A business with less than 100 full-time employees or less than $4 million in revenue in the most recent fiscal year.
- ASU may be able to use existing contracts from any ASU department, other public institutions, and some purchasing consortiums.
Request For Proposal:
- An RFP is the most-used type of formal solicitation. Contact Procurement for information on how to complete an RFP and other options for formal solicitation.
- Exceptions may be granted when a formal solicitation is not practical. In these cases, a Sole Source or Bid Waiver can be evaluated, but these must be worked through Procurement.
Things to remember
- Contact Procurement for assistance if you are working on a complex purchase, including purchases with a contract or a Formal Solicitation.
- ASU designates the ability to sign contracts to certain officers. Find the Signature Authority Delegation list at ogc.asu.edu/contracts/contracts-authority.
- Dollar thresholds are based on a single procurement or overall contract spend. Details may vary, please contact Procurement with specific questions.
If you have a unique situation not covered in this quick reference guide, contact Procurement for assistance at 480-965-2160 and email.
For more information on budget and Finance rules see below links
Ensuring Financial Integrity – FIN 129
Faculty and Staff Reimbursements – FIN 420-01
Foreign Corrupt Practices Act (FCPA) Compliance – FIN 401-05
ASU Travel Policy – FIN 501
Conflict of Interest – ACD 204-08
Authority for Procurement – PUR 201-02
Approving the budget
Once you have your budget completed, you will need to get it approved by the person with budget authority for the account that is paying for the event. Include in your request the budget, an invitation (if it is ready), and your invitation guest list.