| Description (What) |
Initiator (Who) |
Process (How) |
| Endowment Gift is Pledged
by a Donor Proper forms are completed by IUF personnel and
routed for signature
Copies of signed documents are routed to IUF ED-Finance |
IUF
IUF |
Once
a gift is pledged, IUF prepares appropriate forms, routes forms to IU President,
Chancellor, School and Department for signatures. A copy of the signed form is sent
to IUF ED-Finance. |
| Gift Earnings and Match
Projections Five-Year projections are generated by IUF
ED-Finance and routed to UBO Administrator for distribution at IU |
IUF |
IUF ED-Finance
creates projections of earnings and match, including special designation for delayed gifts
with proper documentation, and routes to UBO Administrator
to distribute to relevant IU
personnel. |
| Matching Funds -
President and Campuses Update reserve fund (23-xxx-xx account)
Update reserve fund (BL, IN - department level; SB - campus level) |
UBO
CBO |
Based on the
earnings and match projections, UBO and campus budget officers prepare to have match funds
transferred to individual FEMP accounts. UBO and BL account information is routed to
UBO Administrator for future transfers. |
| Establish IU FEMP Account
and Budget Set up account and inform departments of budget
match amounts
Request budget from departments (using IUF projections)
Submit budget for approvals
Review budget and route to IUF for FYI |
CBO
CBO
Department
UBO |
Campus budget
officers set up accounts in FIS and inform department and schools of projected earnings
and match, according to the IUF projections routed by UBO Administrator. Departments
submit budgets. UBO Administrator reviews and approves budgets and routes to IUF for
review. |
| Designate Faculty
Appointment Appoint faculty; contact UBO
UBO tracks all appointments for audit purposes |
Department
UBO |
Upon approval
of budget, Dept/School/Campus appoint/approve faculty to the chair/professorship.
UBO Administrator requests faculty names for audit. |
| Transfer Funds as Necessary Transfer
match funds to FEMP account (once per fiscal year)
Invoice IUF as necessary (after match funds are exhausted)
IUF sends payment via wire transfer to IU |
UBO/CBO
UBO
IUF |
Each fiscal year, the
UBO Administrator transfers President and BL campus match funds to individual accounts. Campus budget
officers at IUPUI and IUSB move campus funds for accounts on their campuses. As
expenses deplete matching funds, UBO Administrator
bills IUF quarterly for earnings to cover
expenses. IUF pays bill. |
| IUF Review of Expenses Quarterly
or as necessary, via FDRS FEMP website identify unallowable expenses; discuss with
UBO and departments; resolve |
IUF |
IUF reviews the expenses through the
FDRS FEMP website. Questions are addressed to UBO. Questionable expenses
are discussed with UBO and departments. Unallowed expenses are moved to
"continuation" account. |
| Subsequent Year Budget Preparation Follow
IUF projections
Use base budgeting during budget construction
Each budget is review once during June/July using latest IUF projections. |
IUF/Depts.
UBO
UBO/CBO/Depts. |
IUF provides revised earnings and
match calculations in March/April, which UBO, departments, schools, and campuses use to
determine base budgets. IUF calculations are revised in June, and new budgets
revisions are prepared as current budgets. UBO assists as required. |
| Audits Internal
audits performed periodically on IU and IUF accounts |
Auditors |
IU Internal Auditors perform periodic
audit of the FEMP program. UBO and other organizations assist as required. |
| Year End Closing Report
for donors - finances via FDRS website; other info from departments.
Check that all matching funds correlate with one-year-ago, June-July projections.
Check that all matching funds are present. |
IUF/Depts.
UBO
UBO |
Departments provide IUF with
necessary info for IUF reports to donors. UBO ensures that all accounts have
proper match amounts and are reimbursed with IUF earnings as necessary. IUF prepares
annual reports indicating corpus, earnings, expenses, and other information for donors. |
