Budget Authority Training 2014 2015 Endowments Endowments are established through the Office of University Advancement with a donors gift and a signed endowment agreement which has been approved by the Board of Regents ID: 575260
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Endowment Compliance
Budget Authority Training 2014 - 2015Slide2
Endowments
Endowments are established through the Office of University Advancement with a donor’s gift and a signed endowment agreement which has been approved by the Board of Regents.
Whitney King Erica Campanelli David Jones Larry Wickham Kathy Gohmert Arts and Sciences Athletics Business and Engineering Nursing/Health Sciences Technology & Education The minimum funding level is $10,000Slide3
Types of Endowments
Scholarships
Program
FundsSlide4
Types of Endowments
Faculty Positions
Chair
ProfessorshipDistinguishedDistinguished University Chair $2,000,000Distinguished Chair $1,500,000Chair $1,000,000Distinguished University Professorship $ 500,000Distinguished Professorship $ 250,000Professorship $ 100,000Slide5
Discussion
Documents each department should have related to
endowments
Policies governing Endowment ComplianceTracking the endowment distributionsMonitoring the use of endowed fundsSlide6
Tracking
.Slide7
UTIMCO
Endowment distribution information can be accessed through UTIMCO via CRIS (Component Reporting Information System.) Contact Sharon Brown, in the Office of University Advancement, to obtain access to this system or for current information.Slide8
Tracking the Use of Endowment Distributions
Local endowment account balances and expenditure amounts by category can be accessed through PeopleSoft.Slide9
Documents NeededSlide10
MonitoringSlide11
Failure to ComplySlide12
Summary
Budget
Authorities
include projected distribution in annual budgetThe balance in PeopleSoft at the end of each fiscal year is less than two times the annual distribution Annual Report of UseFor excessive accumulation a Report of Planned Use (Spending Plan) by the Budget AuthoritySlide13
Contact
Sharon Brown Office of University Advancement 903-566-7225 sharonbrown@uttyler.edu