405.1 - University of North Carolina at Chapel Hill Procedure on Adding and Withdrawing Endowment Funds

Procedure Statement

Addition of endowment funds

Gifts are received via automated journal entry batches to the established endowment accounts. Each month Accounting Services verifies available cash in the University endowment accounts and wire the funds to the Investment Fund.

For additions to endowment principal that are not gifts, the department must complete an Account Adjustment Request Form, and submit to Accounting Services. Accounting Services will review the request, verify funds availability and approve the request for posting.

Withdrawal of endowment funds

The disbursing authority of the endowment account should submit the following:

  • A memo to the University Controller requesting withdrawal with a detailed explanation of circumstances for such withdrawal, including an approval signature from the Dean's office, Division Head, or Departmental Chair.
  • Completed University Endowment Fund Withdrawal Form with specific FRS account number, name and the amount to be withdrawn.
  • An Account Adjustment Request Form to move withdrawn amount to the appropriate accounts(s).

Forms and Instructions

Related Data

Related Policies

  • Finance Policy 405 - University of North Carolina at Chapel Hill Policy on Endowment Fund Addition, Correction and Withdrawal

History

Revised:

  • February 1, 2010
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Details

Article ID: 131514
Created
Thu 4/8/21 9:10 PM
Modified
Tue 10/31/23 1:18 PM
Effective Date
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02/28/2018 12:00 AM
Issuing Officer
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Issuing Officer Title
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Int. ED Assoc. Entities/Assoc Controller
Last Review
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02/28/2018 12:00 AM
Last Revised
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02/28/2018 12:00 AM
Next Review
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02/01/2020 12:00 AM
Origination
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07/01/2007 12:00 AM
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F&O-Finance