Procedures Relating To The Collection Of Gifts
Paul A. Robell, Vice President for Development and Alumni Affairs
As you are aware, all gifts collected on behalf of the University of Florida are to be deposited and processed through the University of Florida Foundation (UFF). A recent OACR audit of a number of units on campus highlighted that “best practices” are not being used consistently in the handling of these collections. Gifts should be handled with the same care and procedures as are other university collections. See UF Finance and Accounting Directives and Procedures 18.104.22.168, “Cash Handling and Receipting” and DDD memorandum “Procedures for the Collection of Gifts to the University and Related Organizations” June 2003.
Good business practices would include all of the following:
* timely transmittal of gifts to UFF (cash and checks no less than weekly but better within 24 hours; credit card/debit payments by the next business day);
* checks should be immediately restrictively endorsed to UFF;
* gifts held overnight should be secured in a lockable drawer, cabinet or safe;
* a gift log should be maintained and this log should be reconciled to the UFF Finance Accounting System (FAS) regularly.
If you have any questions or need any assistance in these areas, please do not hesitate to contact Randy Settle, interim controller, UFF, firstname.lastname@example.org.