The Office of the Vice President, Chief Financial Officer & Comptroller announces that updates to Section 11.8 - Returning Funds to the University of Illinois Foundation have been published in Section 11 - Gifts and Endowments of the Business and Financial Policies and Procedures Manual.
This updated policy and procedure replaces the previous version (Section 11.8 Return of Gift Funds to the University of Illinois Foundation) and provides guidance to units that need to return funds to UIF for one reason or another (such as to invest or reinvest into a UIF endowment or to return funds which were erroneously distributed to a gift fund within Banner). This new version also ensures the policy is in an updated, user-friendly format consistent with other recently updated policies.
Contact
For additional details regarding this updated policy, please refer to the subject matter experts listed in the Gift Funds section of University Accounting and Financial Reporting’s Who to Ask list. The University of Illinois Foundation can also provide further details if needed.
For questions about the Business and Financial Policies and Procedures Manual, contact the CFO Business and Finance Policy Office at obfspolicies@uillinois.edu.
