Processing Gift Funds: Donor Restricted and Donor Unrestricted (DR / DU)

 

1. Deposit to revenue project (GL)

What 

Who

When

How  Do I

Receive cash & initiate deposit to appropriate 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 gift account does not exist, see: Creating New Gift Projects

Create manual journal entries

Development Office

Day of bank deposit or upon receipt of gift receipt form.

 

 

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

What 

Who

When

How  Do I

Install money on the award

Investment Accounting

Approximately mid-month for all deposits made the previous month.

An email notification is sent to the award manager when the installment is made.

 

3. Fund Projects (GA)

What 

Who

When

How  Do I

Fund projects

Award Manager

Upon email notification that installments have been made.

Modify Budgets and Funding

4. Create Budgets (GA)

What 

Who

When

How  Do I

Budget award-project combination

Award Manager

After Funding is completed.

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 budget to actual and projected expenditures at the award-project level

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 deposits, expenditure credits, etc.

Revenue Project Manager

All Revenue projects 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.

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.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

GL_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

To verify installment changes made via ICOM request or as part of the initial fiscal year approved BOV budget load.

Award Manager

As needed

Installment Modification by Organization worksheet in the Discoverer workbook GA_ Project Reconciliation Reports

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

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

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

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

Revenue Project Manager

 Or

Award Manager

As needed

Revenue vs Installment vs Funding 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

worksheet in the Discoverer workbook GA_ Analysis Reports