Procedures for the Collection of Gifts to the University and Related Organizations

Published: June 30th, 2003

Category: Memos

John P. Kruczek, University Controller

The University of Florida’s large and diversified activity encompasses nearly thirty Direct Support Organizations (DSO’s) and University related corporations (affiliates) that provide support to the University of Florida. During a recent Inspector General review of Decentralized Gift Collections at the University of Florida it was noted that a significant number of gifts and receipts received on behalf of DSO’s and other affiliates were not always handled timely to ensure prompt and accurate deposit to the appropriate bank accounts or adequately safeguarded to prevent unnecessary loss and abuse. In many cases departmental business staff who handle the administrative functions of the University also handle receipts and disbursements for our DSO’s and affiliates. Please note that all receipts, including those collected on behalf of DSO’s and affiliates should be afforded the same care and safekeeping as University funds in accordance with the campus Handbook on Business Procedures under “Cash Handling Deposit Procedures General Policy”. When receiving moneys on behalf of DSO’s and affiliates, departmental business staff should ensure that receipts are deposited within 24 hours, all checks should be restrictively endorsed prior to deposit, and a check log should be used to record receipts for comparison to the financial statements of the DSO or affiliate on a timely basis. In the event DSO’s and affiliate receipts are held overnight they should be protected at all times in a lockable drawer, cabinet, or safe.

Receipts intended for DSO’s and other affiliates should not be co-mingled with University of Florida moneys, or deposited in University of Florida bank accounts. If receipts intended for the University of Florida have been misdirected to a DSO or other affiliate or vice versa, departments receiving such receipts should contact the University Controller for advice and assistance on proper correction or endorsement procedures.

Thank you for your assistance in observing these procedures. Should you have additional questions or require assistance please contact Linda Shreve, University Cashier at 392-0185, S113 Criser Hall.

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