blog posts

• UAFR Weekly Tips: Non-Monetary Exchanges

  Oct 15, 2025 10:00 amAccounting and BudgetingFY 26

  Has your unit ever engaged in a non-monetary exchange transaction?  If so, here are a few helpful tips to keep in mind:

  • As outlined in Section 13.7 of the Business & Finance Policies and Procedures, non-monetary exchange transactions occur when the University of Illinois System receives a good or service from an external party in exchange for providing a good or service.     

  • Example: If a unit gives system event tickets to a local television station in exchange for advertising during the local news, this is considered a non-monetary exchange transaction. 
     
  • These transactions should be reported to UAFR within the same accounting period (i.e., the same month and fiscal year) in which they occur.  Timely reporting ensures compliance with financial reporting requirements.  
     
  • To report a non-monetary exchange transaction, complete and submit the Report of Non-Monetary Exchange Form, located within the policy referenced above and within UAFR’s Forms webpage.  

  Contact
  For further assistance, search for “Non-Monetary Exchanges” in the Business & Finance Who to Ask list to find the appropriate subject matter experts who can assist.