1. Institutional Trust Funds Amanda Robinson 737-1141

2. Types of Institutional Trust Funds Overhead/Indirect Cost Funds Institutional Trust Funds Auxiliary Funds Gift Funds

3. Overhead/Indirect Cost Begin with 120xxx Indirect cost earned from grants No other funding should be deposited or transferred into these funds Expenditures must be research related Established at college or division level

4. Institutional Trust Begin with 141xxx or 143xxx 141xxx must be expended in accordance with approved fund authority form

5. Institutional Trust 143xxx are residual balances transferred from grants No other funding should be deposited or transferred into these funds Expenditures must be research related Established at college or division level unless a large dollar amount

6. Auxiliary Begin with 31xxxx Self supporting entities Examples –Parking and Transportation –Student Health Center –Housing and Dining –Student Stores

7. Gift Begin with 23, 24, 27, 2E, 6C, 6R Restricted for Specific Purposes –Scholarships –Distinguished Professorships –Support for specific departmental use

8. Gift The University and the Foundations have endowments University endowments are in funds that begin with 6C Excess earnings are in funds that begin with 6R Both 6C and 6R funds are nonexpendable

9. Gift The Board determines the percentage of earnings that is transferred to the 2E funds annually Funds that begin with 2E are the expendable funds Must use the money as determined by the donor Contact Cathy Laney @ 737-1138

10. UNC Fit Erskine Bowles, President of the UNC System New guidelines for University processes

11. UNC Fit Journal Entries/Interdepartmental Transfers Documentation that supports the transaction Must verify the amount and have a valid business purpose Examples include a copy of an invoice, a report, an email, or Banner screen prints Accounting staff and/or auditors should be able to clearly understand the purpose of the transaction

12. UNC Fit Journal Entries/Interdepartmental Transfers Preparer must sign or type his/her name and initial beside it Approver must sign his/her full name Preparer cannot be the approver Preparer cannot sign as the approver on behalf of someone else

13. UNC Fit Create a Fund Submit a trust fund request form and a fund authority form to ITF Office with the appropriate signature approvals If prompted, complete a sales activity questionnaire A letter along with a copy of the approved fund authority form will be sent to the person responsible for the fund once the ITF Office has set up the fund

14. UNC Fit Update a Fund Submit a fund authority form with the changes and appropriate signature approvals to the ITF Office A copy of the approved fund authority form will be sent to the person responsible for the fund once the ITF Office has made the changes

15. Auxiliary Overhead Charges Often referred to as an administrative fee Consistently applied since FY 1995-96 Areas receive considerable services from Materials Mgmt, HR, ITCS, and Financial Services beyond which the University receives State appropriations

16. Auxiliary Overhead Charges Rates Auxiliaries1.25% Institutional Trust Funds1.75% Based on prior year’s expenses, excluding transfers Charge posts in the Fall of every year

17. Auxiliary Overhead Charges ORGN Name Fund Name Prog Name

18. Auxiliary Overhead Charges Total Expenses $17,278.63 Less Transfers (4,108.01) Expenses 13,170.62 Auxiliary OH Rate X.0175 Auxiliary OH Charge $230.49

19. Auxiliary Overhead Charges

20. Worker’s Compensation Fee University maintains a pool account for supporting non-state worker’s compensation claims Charge is based on the amount of prior year’s salary expenditures (not including benefits) FY 2009-10 rate is.2%

21. Worker’s Compensation Fee ORGN Name Fund Name Prog Name

22. Worker’s Compensation Fee Total Salary $1,281.03 Worker’s Comp Rate X.002 Worker’s Comp Charge $2.56

23. Fees Collected Fees (excluding student) collected that are not a part of a contract or gift activity should be processed through State funds-111103 Extension instruction and public service activities Includes fees for conferences, workshops, and training courses

24. Fees Collected Fees should be deposited as a revenue (account begins with 5) Defray costs of event Goal should be to break even not to make a profit

25. Matching Concept Revenues generated by an activity and the expenses associated with the activity should be within the same fund. Revenues must be matched with the associated expenses.

26. Scholarships Deadline for submitting Fall 2010 scholarships is JUNE 1 Deadline for submitting Spring scholarships is OCTOBER 1 Payments to students should typically be payroll or scholarships Contact Cathy Laney @ 737-1138 with ITF scholarship questions

27. Salary and Benefit Budgets Loaded into Banner Finance beginning of fiscal year by ITF Office Budgets should include all positions whether filled or vacant Appropriate matching benefits should be budgeted

28. Salary and Benefit Budgets Budget change forms should be prepared throughout the year as position budgets are updated All EPAF’s and PCF’s with positions funded by ITF and Payroll Redistributions that the expense is being moved to an ITF fund (debit) should be sent to Stephanie Mele for approval Contact Stephanie Mele @ 737-1143 regarding positions funded by Institutional Trust Funds

29. Cash Balance Fund Name

30. Cash Balance Should ALWAYS have a positive balance Does not include payments in process or deposits in transit

31. Cash Balance ORGN Name Fund Name Prog Name

32. Cash Balance Cash Balance using 73800 73800 Balance 978,894.65 Salary/Benefit Budget 176,554.00 Expenses (612,382.22) Cash Balance 543,066.43 Cash Balance per FGITBAL 543,066.43

33. Contacts Amanda Robinson737-1141 Cathy Laney737-1138 Stephanie Mele737-1143

34. Fees Presented by Stephanie Coleman ANY CHARGES TO STUDENTS SHOULD FOLLOW THIS PROCESS

35. Four Types of Fees Application Fee General Fee Fees Related to Debt Special Fees

36. Students engaged in a particular activity or course of study Should not be used to provide general academic revenues Board of Governors has not approved any since 2006

37. Miscellaneous Charges Transcripts Caps and Gowns for Graduation Special Examinations Late registrations Insurance Travel related to course

38. Process for Requesting a Fee Obtain Provost or Vice Chancellor Approval Fees are submitted one year in advance Submit request to divisional representative in Fall Division representative submits to Stephanie Coleman Requests are submitted through the Tuition and Fee Committee, Chancellor’s Executive Council, and Board of Trustees, General Administration and Board of Governors(BOG) BOG votes in February for upcoming Fall Semester

39. Process for Miscellaneous Charges Obtain Provost or Vice Chancellor Approval Miscellaneous Charges are submitted one year in advance Submit request to divisional representative in Fall Division representative submits to Stephanie Coleman Requests are submitted through the Tuition and Fee Committee, Chancellor’s Executive Council, and Board of Trustees ECU notifies General Administration of the new miscellaneous charges annually

40. Timeline September- Division representative needs to be notified of fee request October- Request is submitted to Stephanie Coleman November- Tuition and Fee Committee, Chancellor’s Executive Council and Board of Trustees review and vote December- Information is submitted to General Administration February- Board of Governors votes July- Fee can be implemented if successfully approved

41. Any Charges Currently Being Collected in Department? Send Stephanie Coleman colemans@ecu.edu an email with the following: colemans@ecu.edu Department name Purpose for Collecting Who are you charging Dollar amount being charged FOAP using