Processing Endowment Funds: Donor Restricted and Donor Unrestricted (ER / EU)

1. Deposit to revenue project (GL)

What 

Who

When

How do I

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

Investment Accounting 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 Creating a GL Journal Entry

 -- and --

Creating New or Withdrawing Funds from Quasi-endowment Projects.

Purchase shares in the pooled endowment

Investment Accounting

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

 

Create journal entries to distribute semi-annual endowment income

Investment Accounting

Each January and June

 

 

2. Install (allocate funds to) Awards (GA)

What 

Who

When

How do I

Install semi-annual income to the award

Investment Accounting

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

 

3. Fund Projects (GA)

What 

Who

When

How  Do I

Fund projects

Award Manager

After Installment is confirmed

Modify Budgets and Funding

4. Create Budgets (GA)

What 

Who

When

How  Do I

Budget award-project combination

Award Manager

After funding is complete.

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

B.     For all existing Award/Projects links: Modify Budgets and Funding                                                                                          

5. Manage Accounts (GL & GA)

What 

Who

When

How  Do I

Monitor and reconcile expenditures

Preparer

All projects should be reviewed by the 15th calendar day of each month for the previous month’s activity, or as detailed in an alternate schedule approved by the University Comptroller and the Chief Audit Executive.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

Recon@

Or

Expenditure Detail by Project worksheet in the Discoverer workbook GA_Project Reconciliation Reports

Monitor Award Budget to actual and projected expenditures

Preparer or

Examiner or

Approver

All projects should be reviewed by the 15th calendar day of each month for the previous month’s activity, or as detailed in an alternate schedule approved by the University Comptroller and the Chief Audit Executive.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

Recon@

Or

Expenditure Detail by Project worksheet in the Discoverer workbook GA_Project Reconciliation Reports

Monitor budget to actual and projected expenditures at the award level

Award  Manager

All awards should be reviewed by the 15th calendar day of each month for the previous month’s activity.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

Award BBA by Award Manager worksheet in the Discoverer workbook GA_Award Review Reports

OR

Award BBA by Expenditure Type worksheet in the Discoverer workbook GA_ Award Review Reports

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 15th calendar day of each month for the previous month’s activity, or as detailed in an alternate schedule approved by the University Comptroller and the Chief Audit Executive.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

GL Only Project Activity Detail worksheet in the Discoverer workbook GL_Revenue Reconciliation Reports

Monitor Cash Balance

Revenue Project Manager

All Revenue Projects should be reviewed by the 15th calendar day of each month for the previous month’s activity, or as detailed in an alternate schedule approved by the University Comptroller and the Chief Audit Executive.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

Cash Balance by Project worksheet in the Discoverer workbook GL_Revenue Reconciliation Reports

Verify and Troubleshoot as Needed (GL & GA)

What 

Who

When

How Do I

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

Installment vs Funding vs Budget vs Expenditure Report

worksheet in the Discoverer workbook GA_ Analysis Reports

1.     To confirm award installments are fully funded and budgeted.

2.     To determine budget, expenses, and encumbrances for each award summarized by project.

Award Manager

As needed

Installment vs Funding vs Budget vs Expenditure Report

worksheet in the Discoverer workbook GA_ Analysis Reports