A new form has been created, Agreement to Establish a Quasi-Endowment, which is to be used in requesting the creation of a fund functioning as an endowment. This form should accompany the Activity/Project Set-Up Request form when a new quasi-endowment is being proposed.
The approval of new quasi-endowments, previously under the purview of the University’s Board of Trustees, has recently been delegated jointly to the VP for Administrative Services and the Associate VP for Financial and Business Services. These guidelines formalize and clarify the process and establish new rules for creating these funds. The most significant new rule is the establishment of a minimum dollar threshold for creating a fund functioning as an endowment. The new form and guidelines were presented to the Council of Academic Deans and approved in their January 19, 2006 meeting.
The form can be found through the Campus Information System portal, under the Administrative Financials section (Forms). It is listed under Financial Reporting & Accounting in the departmental list sort; and under “Q” (for quasi-endowments) in the alphabetic list sort. Questions regarding the new guidelines can be directed to Jeffrey J. West, Associate VP for Financial and Business Services.
