DIXIE STATE COLLEGE OF UTAH

POLICIES AND PROCEDURES MANUAL


Section: 7-Institutional Advancement

Policy No: 19

Approved: 9/26/96

Policy: DONATION ACCOUNTS

7-19 DONATION ACCOUNTS

19.1 PURPOSE

To show how contribution accounts are established and maintained.

19.2 POLICY

19.2.1 Donation accounts are of two types: for current expenditure and for endowment.

19.2.2 Donation accounts are established and disbursed in accordance with donors' wishes and the policies of the college.

19.2.3 Current expenditure funds (non-endowed funds) are for use as needed under the direction of a program officer (principal investigator or account executive) designated to oversee each account.

19.2.4 Endowment funds are held in perpetuity for the benefit of the programs or projects for which they were established.

19.2.5 Income from the endowed principal is made available for program expenditures.

19.2.6 Endowment income will be dependent on investment earnings.

19.2.7 Program officers are to be assigned to newly established funds by the president or his designee in accordance with the college department or office for which the fund is established. Fund disbursement is managed through the Accounting Department.