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- Completed University Endowment Fund Withdrawal Form with specific FRS account number, name and the amount to be withdrawn.
- An Account Adjustment Request Form to move withdrawn amount to the appropriate accounts(s).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: