How to Use University of Florida Foundation Funds
Paul A. Robell, Vice President for Development and Alumni Affairs
This annual memorandum is a reminder of certain basic rules and procedures concerning funds held at the University of Florida Foundation (Foundation).
1. Please consult the comprehensive “Guide to the University of Florida Foundation, Inc.” that carefully details all procedures (including all necessary forms) about how to deposit and access funds from the Foundation. The Guide may be found at http://www.uff.ufl.edu/intranet (click on Library, then Policies and Procedures). In addition, please see “New UF Requirements for Spending DSO Moneys after July 1, 2004 at http://www.uff.ufl.edu/intranet (click on Library, then Accounting).
2. It is important that each fund at the Foundation has an appropriate fund administrator designated by the Vice President, Dean or Director. He or she is responsible for ensuring appropriate expenditures from each fund, subject to your approval. Please be sure all Fund Administrators in your College or Unit review “Information for Fund Administrators” at http://www.uff.ufl.edu/intranet (click on Library, then Policies and Procedures).
3. Special rules, procedures and investment options govern the establishment and management of funds that are holding gift money designated to construct or renovate a facility. Please be sure to contact the Foundation’s Controller, Chris Zraly, at 392-5958 or email@example.com, about such funds.
4. The Foundation strives to be user-friendly and we look forward to working with you to find ways to accomplish your important goals. However, we are required to enforce all applicable Internal Revenue Service rules and regulations, Federal and State laws. The Foundation’s Board of Directors has established only three simple rules, in addition to requiring strict compliance with donor restrictions: no Foundation funds may be expended for first class travel, private club membership dues, or excessive or lavish entertainment.
5. Most Foundation funds have specific donor restrictions governing the use of the funds, which are documented in a written gift agreement or other written agreement with the donor. Please be sure that you and each Fund Administrator are aware of the specific donor restrictions governing each fund. Currently, the official documented purpose for each scholarship and fellowship may be found at http://www.uff.ufl.edu/scholarships.
For example, if a donor establishes an endowed professorship, no expenditures may be made from that fund if the professorship is unfilled, except those expenditures necessary to fill the professorship. If a fund is restricted for scholarships, only payments in direct support of the scholarship may be disbursed from the fund.
If you have any questions concerning expenditures from Foundation funds, please contact the Foundation’s Disbursements Office at 392-9882, the Foundation’s Controller, Chris Zraly at 392-5958 or firstname.lastname@example.org or the Foundation’s Associate Vice President/COO, Leslie D. Bram at 392-5499 or email@example.com.
6. Confidential Records: Please remember that the records of the University of Florida Foundation, by statute, are confidential and not subject to the public records laws. Donor information, including addresses and telephone numbers, is not to be made public without the permission of the donor.
We look forward to providing excellent service to the UF community this year. Please do not hesitate to contact us if you have any questions, concerns or suggestions.