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Fiscal Officers are responsible for ensuring that processes and controls are in place that ensure that the use of gift resources agree with donor intentions.
The determination of donor intent must be supported by the gift agreement or other pertinent documentation stating the donor’s intent.
IU Foundation (IUF) maintains a role in the oversight of gift funds brought into IUF, including how the funds are spent once they are transferred to the university, and can have audits of the transferred funds performed at their direction by IUF audit staff.
Gifts dollars that are spent in a university account, or gifts-in-kind utilized by the university, are the same as other university resources for the purposes of federal compliance and university policy.
The official repository for documentation relevant to gifts should remain at the institution where the funds were intended by the donor to reside. All original documentation received by university personnel related to gifts deposited into IU Foundation accounts should be sent to the IU Foundation, with copies of the documentation retained onsite at the unit’s business office.
For gifts that must reside in university accounts, as directed by the donor, a copy of the corresponding documentation must be forwarded to the IU Foundation, along with the IU/IUF Gift Deposit Slip, at the time the gift is recorded on the donor record.
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