Endowment Compliance Training Material

Accounting Endowment Compliance Responsibilities

Correct deposit of endowment gifts
- Gifts for established endowments are deposited to a 57-10xx-xx20 account for investment
- Gifts for pending endowments are deposited to the 30-9000-xx93 endowment holding account in each college/school/unit, until a 57 account is created
Endowment distribution must be used in accordance with the donor agreement, UT System, and University policy and procedure
- Within the designated area: college/school/unit
- For purpose intended: faculty, student, program, book
- Following additional donor-specified criteria
Endowment earnings must be utilized in a timely manner
- Student support endowments should not carry a balance of more than two years of annual endowment distribution
- Faculty, program support, and book fund endowments should not carry a balance of more than three years

Endowment donor agreements – on file in the University Development Office and development offices within each college/school/unit
VIP Direct – University-wide database with donor criteria and other endowment information
DEFINE – donor criteria from VIP on each endowment is available on a GB1 pop up screen
FRMS – donor criteria from VIP is available under endowment details when an endowment-related 30 account is entered to award student support
Board of Regents Rules
- BOR Rule 60201: Administration of fellowships, scholarships, and loan funds
- BOR Rule 60202: Academic positions
UT System Policy Library
- UT System Policy 138: Gift Acceptance Procedures
https://financials.utexas.edu/hbp
- Part 2 Fund Accounts: 2.2.6 Gift Funds – 30-Accounts 2.2.11 Endowment Funds – 57-Accounts
- Part 9 Expenditure Procedures: 9.2.1 Entertainment and official occasion expenses