Appropriate Use of KU Endowment Accounts
The purpose of KU Endowment (KUEA) is to accept privately contributed donations on behalf of the University. Where activities are clearly a part of the University’s operation, then deposits and payments associated with those activities are required to be made through University accounts (on deposit with the state treasurer). These transactions almost always will be handled through restricted fee income/expenditure accounts (700 funds) on campus.
Appropriate Use of Restricted Fees Fund Examples:
- Conference and registration fees should always be handled through the University, not the Endowment Association. In fact, conferences preferably should be run through Continuing Education. Charitable contributions to help support the conference may be deposited at KUEA, but any conference fees for attendance, meals, etc., should be deposited in a University account.
- Funds collected from the sale of items to the public should be deposited in your departmental 700 funds. All such activities also need approval from the Provost Office per Service Center and Recharge Center Fees policy.
Appropriate Use of KUEA Fund Example:
- Events put on by university schools with the specific goals of developing alumni for future fundraising or events that are intended to raise scholarship funds for the school should be coordinated with KUEA and could be handled through your KUEA account.
Transactions that should not flow through KUEA or Restricted Fees Fund:
- Funds collected specifically to pay for expenses related to departmental staff retirement dinners should not be deposited in KUEA or in your 700 funds. These retirement dinner funds need to be handled privately.
The University has a great deal of flexibility in using restricted fee accounts, although there are restrictions as the name implies. The main restriction is that the purpose for which funds are collected is the purpose for which they are used. In addition, all State regulations regarding the expenditure of funds apply to restricted fees.