International Operating Funds (IOF)
An international operating fund (IOF) account is an advance of funds to an individual custodian on behalf of a UW department for use at an international location where the university has a presence for purposes of research or education. IOF accounts are mainly used for operational needs for cash purchases at UW locations abroad. The fund can also be used at those locations to pay research subjects (non-U.S. citizens) and reimburse expenses paid by individuals on behalf of the university.
For short term advanced funds (i.e. less than a year) to be used in an international location, see the field advance webpage.
For funds to be used locally for research subject payments, see the revolving fund webpage.
The advance of international operating funds is not tied to a budget, but rather to a custodian. Purchases are reflected on the budget when a request for reimbursement is processed. Requests for reimbursement should be presented to the Banking & Accounting Operations (B&AO) group monthly.
International Operating Funds are subject to all Federal, State, University, and budget purchasing rules and guidelines.
CRITERIA FOR OBTAINING AN IOF ADVANCE
IOF accounts are suitable for UW programs that have a legally registered presence in the host country. Custodians are responsible for understanding and following criteria for obtaining advanced funds from the UW.