Does your unit have a process in place to monitor and identify accumulated balances in Banner gift and endowment income funds which may have become stagnant due to a lack of expenditure activity? If not, then you could potentially be at risk of violating the donor intent restrictions assigned to those funds.
For example, if your unit has a gift or endowment income fund restricted for awarding an annual scholarship, then it would be a violation of those assigned restrictions if the funds went unused year after year and if those annual scholarships were not awarded.
To ensure proper stewardship of gift and endowment income funds, we recommend establishing and implementing procedures to routinely monitor any accumulated gift and endowment income fund balances which you may have within your unit. This will help identify accumulated balances that may be at risk of violating the assigned donor intent restrictions.
Contact
For further questions, please reach out to UAFR's applicable subject matter experts within the Gift Funds section of UAFR's Who to Ask list.
