Account Information
Learn more about account representatives, the process to establish or update an account, account structure, and Do Not Invade fund information.
Account representatives
Information about the roles of account representatives and how to change/update.
- Changing, adding, or deleting account representatives
- To add/change/delete an account contact, please complete the Account Representative form as well as a memo containing a signature is needed from either the outgoing control person or the Vice President/Dean/Department Head of that specific college/area, and send it to your UIF Finance Department at 500 LCUA.
- Once form has been received, you will be sent a confirmation email with your log-in information
- Role and responsibilities of account control representatives
- Monitor cash position
- Monitor disbursements—signatures required for Payment Authorization Form
- Determine appropriate investment pool
- Determine each quarter's cash needs
- Option to receive on-line reports to monitor accounts
- Role of report-only representatives
- Option to receive online reports to monitor accounts
Foundation Account Establishment/Updates
Information about the process required to establish an account or to change an account description.
- Reasons for new account establishment
- A University department needs a discretionary (general) fund when one does not exist.
- A donor requests that a fund be established to memorialize or honor the life of a loved one, in accordance with meeting the account naming guidelines.
- A donor contributes a large amount of money, meeting the account naming guidelines.
- A donor contributes money with the intention to establish a new account with a purpose unlike currently existing accounts.
- Process to establish an account
- All new account requests must be directed to a Foundation development officer. The Finance Department can assist in directing questions to the appropriate development officer.
- To change an account description
- All account description changes must be made through the development officer and the Finance Department.
Foundation Account Structure
How Foundation accounts are classified.
- Gift funds 30-xxx-xxx
Includes contributions - Spendable payout
Five percent annually based on either the fund's trailing 12-quarter market value moving average or actual earnings, depending on the investment pool
Do Not Invade (DNI) Funds
The Uniform Management of Institutional Funds Act, UMIFA, governs expenditure of endowed funds by nonprofit organizations, including educational institutions and their foundations. This statute limits a nonprofit organization’s ability to provide payouts from endowments that have dipped below their Historic Gift Value (HGV), which is defined as the fair market value of the gift at the time it was made. As additional gifts are made, the HGV will increase. Learn more