The Foundation Accounting Office periodically reviews unsigned, expired, and inactive funds and may contact the fund representatives to discuss. This policy ensures that donations are utilized to support UGA’s mission. The terms of each fund agreement are followed in all cases, and highest priority is placed on honoring the donors’ intent.
I. Unsigned fund agreements are reported on a quarterly basis to ensure progress through the approval stages. The Foundation Accounting Office will contact the appropriate Development Officer to determine the status and the necessary steps to finalize.
II. Endowments not fully funded during the time period described in the agreement are reported on an annual basis. The Foundation Accounting Office will send out memos to Deans or Directors requesting advice. The Dean or Director may choose to provide a plan to raise additional gifts, to transfer remainder from another fund, or to close the fund and transfer the balance to another fund.
III. Funds that have no activity for twelve consecutive months are reported on an annual basis. The Foundation Accounting Office will send out memos to Deans or Directors requesting advice. The Dean or Director may ask that it remain open for future needs or that it be closed and the balance transferred to another fund.
Last Updated on June 21, 2019