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FINANCIAL AFFAIRS

Accounting & Administration of Trust Funds

Expandable List

The spending allocation is 4% of the monthly average market value of the endowed (non-expendable) component of the trust fund.  The spending allocation is credited to the expendable component of the trust fund annually in July*.  This applies to General Perpetual trust funds only.

*The spending allocation will be credited monthly for trust funds with first non-expendable donations received in the current calendar year.

For further details, please see the Expenditure Policy.

Working capital interest (currently 1%) is allocated to General Perpetual and General Long-Term trust funds monthly based on the expendable funds balance.

Expenditures from the expendable component (fund 77) of the trust fund are guided by the trust fund administrator.  Expenditures must be in accordance with University policies and procedures and the agreed upon terms and conditions as outlined in the signed gift documentation.

Operating funds (fund 20) cannot be transferred into trust (fund 77), with the exception of memorial donations of up to $1,000.  For further details and exception requests, please see the Internal Transfer Rules.