UF Foundation Non-Endowed Funds
Thomas J. Mitchell, Vice President for Development and Alumni Affairs and Michael McKee, Interim Vice President and CFO
In coordination with the University’s investable cash consolidation, we are pleased to announce a process improvement for making non-endowed monies more readily available to campus retroactively effective July 1, 2014. All non-endowed gift monies and endowment spending transfers will be automatically transferred to campus and reside in the appropriate Fund, Department ID and Source of Funds in MyUFL (PeopleSoft).
Going forward, non-endowed gifts received will be automatically transferred to campus with a one month delay (July gifts will be transferred September 1) and endowment spending transfers will be transferred quarterly. This will improve the availability of non-endowed funds and greatly reduce the administrative burden in transferring these funds. As a result, the UF Foundation will eliminate the non-endowed investment pools.
We feel this change will be very beneficial to campus. If you have any questions, please contact David Christie, Controller at email@example.com.