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University of Idaho Foundation

Gift Monthly Process

N-Accounts: Gift Revenue

  • When a department receives a gift, the department fills out a gift transmittal form and submits it to Gift Administration. The information on this form is used by Gift Administration to enter the gift into Banner. Once a gift is processed, a receipt is mailed to the donor.

Month Closing Procedures

  • Gift Administration will analyze each University of Idaho Foundation, Inc. (Foundation) gift account to determine the dollar amount of gifts received during the prior month that will be available for budgeting.
  • A budget adjustment for all N Gift Accounts (Journal Type BAGF—Trust and Investment Budget Adjustment) will be completed after the Foundation accounts have been reconciled. The amount will be 95% of the gifts received in the prior month. BAGF allows the gift budgets for each month to be budgeted into Primary Expense 05—Operating Expenses. Departments can then do budget transfers if needed or expense items in the operating expenses category.
    • For example, if gifts are received in the month of March for $1,000, a BAGF will be completed in early April in the amount of $950 for the gift budget, into 05-Operating Expenses for that N Gift Budget.
  • The Office of Donor Relations & Stewardship distributes the Dean's Report via weekly email that includes information about all gifts received for a college or department.
  • The ADPACCT report is a recap of all gifts received for designations within a department and/or college. This information is helpful in reconciling the monthly budgeted amount with the gifts received. The college and/or department staff can have access for running this report by contacting Gift Administration.
    • Gifts sent to Gift Administration near the end of the month may be processed in the next month. This depends on volume of gifts being received and the timing of gifts being sent to Gift Administration.
    • Gift Administration processes all gifts postmarked by December 31st with a December 31 gift receipt date. Donors have been assured that all gifts postmarked by this date will receive credit in the previous year for tax purposes. December 31 gifts are processed through the third week of January. December gift totals will differ from the ADPACCT report and the amount budgeted due to this overlap. All gifts received December 1-30 will be part of the December gift budget, which is posted in early January. All gifts dated December 31-January 31 will be part of the January gift budget, which is posted in early February. If you are reconciling the December gift budget , run the ADPACCT report from 12-1 to 12-30. For January gift budget , run the ADPACCT from 12-31 to 1-31.

Monthly Transfer Procedures (Gift Accounts)

  • Gift Administration will analyze each University of Idaho gift account for the last month to determine the accounts with a cash deficit position (FWRDSTR—Statement of Changes Report).
  • Those gift accounts with a cash deficit position will have funds transferred (97% amount), provided there are sufficient funds in the Foundation Fund. If there are insufficient funds in the Foundation Fund, the remaining balance will be transferred to cover the deficit.

All Other Accounts

  • K Grant Accounts (D4 Funds, e.g. AAKxxx) . Gifts received for K Grant Accounts are budgeted through the Office of Sponsored Programs (OSP). The 95% amount is transferred as requested by the Office of Sponsored Programs.
  • Building Accounts. Gifts for building accounts are not part of the monthly budgeting process. These gifts are held and 95% amount transferred when requested by the University.

N Gift Accounts: Consolidated Investment Trust (CIT) Income

  • Income from the CIT will be credited to N gift accounts each July.  A Journal Entry is posted to record a permanent budget adjustment (BABA) and deposit of cash (into R3811E-CIT Dividends / Interest) to these accounts in July

N Gift Accounts Other Revenue

  • In special circumstances, other revenue may be budgeted into gift accounts. Contact the Budget Office.