Please Note: The following paragraph is a proposed addition to the existing "Section 2: Agency Funds - Policies for Managing Fund Type 9D Agency Funds" subsection.
Money Held for Individuals – The University will not hold personal funds of individuals as a fund type 9D agency fund unless addressed separately in University policy, such as in support of study abroad programs.
The University will hold funds on behalf of groups of individuals in fund type 9D agency funds only when they have formalized their relationship through articles of association, bylaws, partnership agreements, or a similar document that establishes the group's decision-making protocol and defines the purpose of the group.
Groups of individuals within the University community (primarily faculty, staff, students or their immediate families) must become either a registered organization or a registered student organization in order for the University to hold their money in an agency fund. The University will administer the organization's money as a fund type 9G registered organization fund.
To leave feedback, please use the "Add Comment" link below. On the next screen, choose the "Sign in with my NetID" option and log in with your University credentials. Comment moderation is enabled. Your comment will not appear until approved.
You may also submit a comment without posting to the feedback board by contacting obfspolicies@uillinois.edu.
