Receive cash & initiate deposit to revenue project

Department

-- or --

Development Office 
 (924-1402)

Depending on who received cash directly

Within 24 hours of receipt

Complete Gift Deposit Form and mail/hand deliver to Development Office. Gift Deposit Form

If an appropriate endowment account does not exist, see: Creating New True Endowment Projects  

Create manual journal entries

Development Office

Upon receipt of check directly, or upon receipt of gift receipt from department.

Revenue Project Manager (GL Specialist)

To create a new Quasi-endowment, or withdraw from an existing

ITS or the department creates a manual journal entry to transfer cash from a gift or other local fund to a quasi-endowment revenue project.

See Processing Manual Journal Entries 

 -- and --

Creating New or Withdrawing Funds from Quasi-endowment Projects.

Purchase shares in the pooled endowment

Investment and Tax Services (ITS)

Month following deposit of gift or transfer of funds (re: quasi-endowment)

Create journal entries to distribute semi-annual endowment income

Investment & Tax Services (ITS)

Each January and June

Install semi-annual income to the award

Investment & Tax Services (ITS)

By mid-February and mid-July, ITS makes installments and sends e-mail notification to award managers.

Fund projects

Award Manager

After Installment is confirmed

Modify Budgets and Funding

1. Increase or first time (Steps 1-10)
2. Decrease (Steps 11-42)

Budget award-project combination

Award Manager

After funding is complete.

A.    For projects linked to an award for the first time. Creating Award Budgets 

Make sure award/project linkage has been approved before you create the award budget.

B.    For all existing Award/Projects links: Modify Budgets and Funding  (Steps 11-31)

Monitor and reconcile expenditures

Project Manager

All projects and awards should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

FM_Expenditure Detail by Project

Monitor Award Budget to actual and projected expenditures

Project Manager

All projects and awards should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

FM Project BBA by Expenditure Type

Monitor budget to actual and projected expenditures at the award level

Award  Manager

All awards should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

FM Award BBA by Award Manager

OR

FM Award BBA by Expenditure Type

Review and reconcile gift deposits and other general ledger transactions such as: cash transfers, investment income, market gains & losses (quasi-endowment), etc.

Revenue Project Manage

All Revenue projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

GL Only Project Activity Detail  

Monitor Cash Balance

Revenue Project Manager

All Revenue projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

GL_Cash Balance by Project

1.    To determine if additional revenue is available to install on awards.

2.    To determine cash balance for a revenue project with expenditures summarized by project.

Revenue Project Manager

 Or

Award Manager

As needed

UVA PA Revenue vs Installment vs Funding vs Budget vs Expenditure Report