Non-State Funds, Accepting and Administering

Policy Administrator:  Vice President for Administration Authority: Presidential Memo BA 02-05, Education Code sections 89720 (Gifts) and 89721 Deposits), Executive Orders 890 and 1000 Effective Date:  July 1, 2008 Updated:  Supercedes Fiscal Management of Donated Financial Aid Funds, dated November 16, 1999 and Trust Funds, dated February 21, 2002 Cross References: Bank Accounts and Cash Management; Credit Card Acceptance; Delegated Financial Authority and Responsibilities; Gifts; Gift Acceptance, Responsibility and Procedures; Procurement Policy; Student Fee Policy Policy Number:  ADM-0161

NON-STATE FUNDS, ACCEPTING AND ADMINISTERING

Education Code sections 89720 and 89721 authorize the CSU Trustees to accept and deposit into local trusts certain types of funds related to the University’s mission, including the deposit of moneys collected as higher education fees and income from students. Effective July 1, 2007, campuses were directed that financial resources not required for transactions within the State Controller Funds were to be recorded in CSU Fund categories and types. This included the establishment of a General Operating Fund in the CSU Trust Fund for the purpose of reporting revenues, expenses, and net assets related to state-supported instruction and related programs and operations.

This policy governs the types of funds that may be received under the cited authority and the organizational entity where these funds will be deposited and administered. Local trusts are defined to include the CSU Trust Fund and the University’s six auxiliaries: the University Foundation at Sacramento State, University Enterprises, Inc., University Enterprises Development Group, Associated Students, Inc., Capital Public Radio, and the University Union.

 

Responsibilities

The campus President is delegated authority and responsibility for the effective oversight of all state funds held by the campus and all funds held in a fiduciary capacity.

The University Chief Financial Officer is responsible for the administration of this policy

Scope

This policy applies to all funds deposited in local trusts that relate to the University’s mission.

Procedures

Non-State Funds: Procedures for Accepting and Administering

 

Approved by Alexander Gonzalez on October 2, 2008.