Transcript Types of Endowments - The University of Texas at Tyler

Endowment Compliance
BUDGET AUTHORITY TRAINING 2014 - 2015
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
Arts and Sciences

Erica Campanelli
Athletics
David Jones
Business and
Technology
The minimum funding level is $10,000
Larry Wickham
Engineering
Kathy Gohmert
Nursing/Health Sciences
& Education
Types of Endowments

Scholarships

Program Funds
Types of Endowments
Faculty Positions
Chair
Professorship
Distinguished
Distinguished University Chair
Distinguished Chair
Chair
Distinguished University Professorship
Distinguished Professorship
Professorship
$2,000,000
$1,500,000
$1,000,000
$ 500,000
$ 250,000
$ 100,000
Discussion

Documents each department should have
related to endowments

Policies governing Endowment Compliance

Tracking the endowment distributions

Monitoring the use of endowed funds
Tracking

.
Endowment invested
at University of
Texas Investment
Company
(UTIMCO)
Interest Income from
the endowment is
received at UT Tyler
on a quarterly basis
via PeopleSoft
Funds distributed to
recipient/budget
authority
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.

Tracking the Use of Endowment
Distributions

Local endowment account balances and
expenditure amounts by category can be accessed
through PeopleSoft.
Documents Needed
A copy of the
endowment agreement
and/or supporting
documentation showing
use requirements
Supporting receipts
and documentation
for any expenditures
Monthly account
reconciliation in
PeopleSoft
The Budget Authorities shall
insure that the projected
payout is included in the
annual budget
The Office of University
Advancement requires an
annual Report of Use for
monitoring purposes.
The balance in PeopleSoft at
the end of each fiscal year is
less than two times the annual
distribution from the
endowment.
For excessive accumulation, a
Report of Planned Use is to be
submitted by the Budget
Authority stating the plan to
correct the excessive
accumulation and the
projected payout for the
following budget year.
Failure to Comply
Legal liability with the donor(s)
Return of
the gift to
the donor
Adverse public
relations
Jeopardizing
future gifts
Summary




Budget Authorities include projected distribution
in annual budget
The balance in PeopleSoft at the end of each fiscal
year is less than two times the annual distribution
Annual Report of Use
For excessive accumulation a Report of Planned
Use (Spending Plan) by the Budget Authority
Contact
Sharon Brown
Office of University Advancement
903-566-7225
[email protected]