8.3 Endowments and Quasi-Endowments
To ensure funds are invested in assets appropriate for their intended duration and purpose.
The UTFI Business Office provides support for the various units and departments within the Foundation through budget tracking, accounts payable, travel reimbursement, time reporting, contracts, account creation, stock gifts, and financials auditing.
When we receive a gift that is establishing a new account where the money is being directed to the Foundation we must set up a Foundation “S” account and a University “R” account.
Procedures to process invoices, work with vendors, reimburse miscellaneous expenses, reconcile procurement cards, and make special payments that do no involve a contract.
The UT Foundation follows many of the same purchasing guidelines as the University of Tennessee. Like UT, all purchases of more than $10,000 must have a contract.
Gifts of publicly traded stock or other securities are received electronically by the UT Foundation through our broker, BNY Mellon.
Procedures to efficiently and accurately request travel, submit travel expenses, bill airfare directly to the Foundation, and register for conferences.
To ensure funds are invested in assets appropriate for their intended duration and purpose.
Guidelines for the storage, retention, and disposal of UTFI records.
Download a PDF of the UTFI records retention schedule.
A set of rules that applies to the creation of an Encompass email.