Account Creation

  1. Whenever we receive a gift that is establishing a new account where the money is being directed to the Foundation(anything after July 1, 2011) we must set up a new Foundation “S” account and a new University “R” account (if non-endowed).
  2. New accounts will require establishing an “S” Account, an ANDI Allocation, and an “R” account.
  3. The minimum gift to establish a new gift account at the Foundation is $10,000. The minimum initial gift required to create a current (expendable) fund that is separately identified on the UTFI books is $10,000.
    • The minimum gift may be given in installments so long as the $10,000 minimum is reached within one year of the date the fund is established.
    • Gift Agreements (see below) are not required for creating current funds; however, Gift Agreements can be a useful tool to provide guidance on the proper use and stewardship of the funds (e.g., to provide scholarships for students enrolled in a particular program).
    • Gifts of less than $10,000 shall be posted to an existing current fund whose purpose is most consistent with the donor’s wishes.
    • At the discretion of UTFI, and in consultation with the appropriate UT administrator, current fund accounts with low balances for an extended period of time may be eliminated and the remaining funds combined with another existing current fund account with a similar purpose.
  4. If the new account meets the above requirements, send the following information to: business@utfi.org:
    • Name of the New Account
    • Funds Center (U account)
    • Administrative Provisions or Gift Agreement
  5. The new accounts will be established within 4 weeks and emailed out to the College or Department’s distribution list.

CONTACT US

General requests and information
business@utfi.org

Timesheets
time@utfi.org

Lisa Taylor
Chief Financial Officer
ltaylor3@utfi.org

Amy King
Director of Accounting
aking@utfi.org

Beth Coleman
Senior Financial Specialist
bcoleman@utfi.org

Lee Ann Craig
Purchasing and Contracts Coordinator
lcraig@utfi.org

TIME REPORTING

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