Withdrawal of Agency Funds

Since agency funds held by TAMU are owned by another entity and are only deposited with the institution for safekeeping, requests for withdrawal of funds do not have to follow TAMU purchasing guidelines.  Withdrawal requests must be submitted through appropriate AggieBuy document routing paths from authorized signers/approvers. Requests may include, but are not limited to, vendor invoices, student organization memorandums or other documentation.

 All properly authorized requests for less than or equal to the amount of funds on hand will be processed for payment by Financial Management Operations or the approved office.

 Agency funds are not considered sales tax exempt and should not use the Texas A&M University exemption form. Furthermore, they should not use Texas A&M University’s W-9 or credit information when applying for credit with a vendor.  Texas A&M University is responsible for reporting 1099 reportable payments made through agency funds. Vendors must provide W-9 information or other IRS documentation before agency funds can be disbursed for purchases of goods or services.