IFAS Internal Management Memoranda

IFAS; Receipt Procedure for Recording Sale of Livestock

EFFECTIVE DATE: October 24, 1994

INTERNAL MANAGEMENT MEMORANDUM NUMBER: 6C1-6.60-6 (Revised)

SUBJECT: IFAS; Receipt Procedure for Recording Sale of Livestock

  1. Policy

    All sales of livestock owned by the University of Florida Foundation, Inc. will be made using the Livestock Sales Receipt Form, copy attached as Exhibit A. The unit administrator is responsible for preparing and distributing the Livestock Sales Receipt Form.


  2. Procedure

    When a livestock sale is made the unit administrator or designee will prepare the Livestock Sales Receipt Form. The form has three (3) parts and are pre-numbered for audit control.


    1. Preparation of the Livestock Sales Receipt Form

      1. Record the appropriate Foundation account number in the space provided and labeled (1) on Exhibit A. The correct number is important to assure that proper credit is made and inventory records are updated correctly.

      2. The name of the individual or organization purchasing the livestock should be printed in the area labeled (2) on Exhibit A.

      3. The total amount of the sale should be entered in numerical form by the $ sign labeled (3) on Exhibit A. For example, if the amount was $500.00, enter 500.00 beside the $.

      4. The amount of the sale should be entered in verbal form in the space labeled (4) on Exhibit A. For example, if the amount was $500.00, enter Five Hundred and no/100 in the space.

      5. The livestock sold should be listed with the number and type in the area labeled (5) on Exhibit A.

      6. The method of payment should be checked in the area marked (6) on Exhibit A.

      7. The unit administrator or designee will sign the form in the area marked (7) on Exhibit A.

      8. The title of the person signing the form will be entered in the area marked (8) on Exhibit A.

      9. The date of sale will be entered in the area marked (9) on Exhibit A.

      10. Exhibit B is an example of a completed form.

    2. Distribution of the Livestock Sales Receipt Form

      1. Original copy (white) will be given to the Purchaser.

      2. The yellow copy will be retained by the unit making the sale.

      3. The pink copy will be forwarded and retained by the IFAS SHARE Fiscal Office.

    3. Miscellaneous Instructions

      1. Since the receipts are pre-numbered, it is essential that an accounting be made for all forms. If a form is voided, please write VOID across the form and forward the pink copy to the IFAS SHARE Fiscal Office for file purposes.

      2. It is important that the description and number of livestock be recorded on the form in sufficient detail because the receipt will be used to adjust the livestock inventory.

      3. Additional receipt forms may be obtained by calling the IFAS SHARE Fiscal Office.

      4. The unit administrator will be asked to sign for the receipts received using the form shown as Exhibit C.

      5. Only those sales which involve livestock owned by the University of Florida Foundation, Inc., should be receipted on the attached Livestock Sales Receipt Form.

      6. The following units will be coded as indicated and issued receipt forms:
        • 01 Animal Science
        • 02 Dairy Science
        • 03 AREC, Ona
        • 04 NFREC, Quincy
        • 05 Miscellaneous
      7. Units which have not been issued a unit number or receipts should contact the IFAS SHARE Fiscal Office to obtain Livestock Sales Receipt Forms.