University System of New Hampshire
Financial and Administrative Procedures

RESTRICTED GIFTS ACCOUNTS
Procedure 10-052
Issued By: Controller
Issued Date: 03/01/92

A. SUMMARY OF ADMINISTRATIVE PROCEDURE

This statement establishes minimum amounts for creating separate accounts upon receipt of restricted endowment gifts and restricted current gifts.

1. Gifts to endowed funds. USNH requires a minimum of $5,000 to establish a new endowed fund under normal circumstances. (Campuses may be more restrictive by requiring a higher minimum.) Exceptions to this rule may be made only by the Campus President with the USNH Treasurer based on such factors as the promise of future additions to the fund or other subjective considerations. Once an endowed fund has been established, gifts of any size may be added to it at any time.

2. Restricted current gifts of $500 or more for which a CUFS account does not presently exist. USNH requires a minimum of $500 to establish a new restricted current gift account in CUFS under normal circumstances. Exceptions to this rule may be made only by the USNH Controller based on such factors as the promise of future gifts with the same restriction, the nature of the restriction, and other subjective considerations. Each specific restriction for which gifts have been accepted is set up in CUFS as a separate fund to provide appropriate stewardship over the restricted resources.

3. Restricted current gifts of less than $500 for which a CUFS account does not presently exist. Restricted current gifts of less than $500 for which an account has not yet been established in CUFS will be recorded in "generic" restricted current fund accounts (CUFS Funds) established for each major department/division/college. Campus management will be responsible for fulfilling USNH fiduciary stewardship responsibilities through one of the following means:

   1. Manual subsidiary records maintained and reconciled by deans/directors/ department heads to faithfully fulfill responsibility to donor to spend restricted gifts as accepted by USNH.

   2. Separate CUFS revenue source codes and expense object codes (within appropriate designated ranges) may be established to track the receipt and use of small restricted gifts within the CUFS generic restricted fund.

      Campuses are urged to establish a reasonable number of generic restricted current fund accounts immediately in anticipation of future restricted gifts. Where future restricted gifts are not expected to reach the $500 level for any one department, campuses are urged to combine departments into units, divisions, colleges, etc., so that generic restricted current fund accounts can be held to a reasonable number.

4. Restricted current gifts for which a CUFS account already exists. Once a restricted current gift account has been established, gifts of any size may be added to it, as LONG AS THE PURPOSE AS RESTRICTED BY THE DONOR IS IDENTICAL TO THE RESTRICTED PURPOSE AS DEFINED BY THE INITIAL ACCOUNT CREATE REQUEST. Investment earnings will not be credited to unused balances of restricted current gifts under normal circumstances. Rare exceptions to this rule may be made only by the USNH Treasurer.