CAMPUS NOTICE
CHIEF FINANCIAL OFFICER
OFFICE OF ADVANCEMENT SERVICES
May 3, 2018
KEY ADMINISTRATORS/KEY SUPPORT STAFF
| SUBJECT: | New PPM 410-5 Policy on Timely Expenditure of Endowment Payout and Expendable Gifts |
The University has a responsibility to fulfill the terms of charitable gifts. In order to ensure proper donor stewardship and adherence to the terms of both expendable and endowed gifts as well as FFE, all UC San Diego benefiting units need to expend gift funds and endowed payout in a timely manner.
The new Policy on Timely Expenditure of Endowment Payout and Expendable Gifts (PPM 410-5) has been issued. The policy notes that:
• The annual payout generated by any UC San Diego endowed fund should be expended within two fiscal years of receiving the payout.
• Current use gifts should generally be expended within two years of receipt.
• Gift funds will be monitored for compliance and a spending plan must be provided if compliance is not occurring.
The Office of Donor and Fund Stewardship in Advancement Services will monitor funds, provide information, and provide policy oversight and reporting.
The new policy is available at the following website:
http://adminrecords.ucsd.edu/ppm/docs/410-5.html
We appreciate your review of the policy and implementation of expenditure plans in accordance with the policy. Questions can be directed to the Office of Donor and Fund Stewardship at fundstewardship@ucsd.edu.
 |
Pierre Ouillet Vice Chancellor and Chief Financial Officer Marlene Shaver |