Internal Management Memoranda

EFFECTIVE DATE: July 20, 1994

INTERNAL MANAGEMENT MEMORANDUM NUMBER: 6C1-6.60-3 (Revised)

SUBJECT: IFAS; Transferring Funds from a UFF SHARE Account to a Miscellaneous Gifts & Grants (MG&G) Account (formerly called Combined Grants Account)

1. The following policy is hereby established for transferring funds from a UFF SHARE account to a MG&G account:
   1. Funds held by the University of Florida Foundation, Inc. (UFF) in a UFF SHARE account that are to be used to employ personnel on any basis must be transferred from the UFF SHARE fund to a University MG&G account for disbursement.

      Issuance of salary must include income tax, Social Security, and other deductions which the Foundation is not prepared to process.

   2. Funds to cover other categories of expenditures may be (but do not have to be) transferred to University MG&G accounts. If funds are transferred to a MG&G account they will be subject to State purchasing regulations.

   3. The UFF is a private non-profit entity which is subject neither to Board of Regents approval for accepting funds nor to State regulations that govern purchasing activities, except in the case of UFF accounts that include state matching funds (See A Guide to Operations, University of Florida Foundation, Inc.). Funds transferred from UFF SHARE accounts to University MG&G accounts require acceptance by the IFAS Sponsored Programs Office, although the funds must be used for purpose(s) the donor(s) indicated. The funds, once transferred, must be handled in the same manner as Contracts and Grants funds.

   4. Funds cannot be transferred from a University of Florida account to a UFF account; however, with special approval an unexpended amount of funds previously transferred from a UFF SHARE account to a University MG&G account can be returned to the UFF SHARE account from which they were transferred.

2. The following procedure shall be used to request transfer of funds from a UFF SHARE account "restricted" for a given unit to the unit's MG&G account:
   1. The unit administrator will submit to the appropriate Dean`s office an original Disbursement Request Form, UFF-D requesting transfer of funds from the unit's UFF SHARE account to the unit's MG&G account (specifying the MG&G account number) and specifying the amount to be transferred. The Disbursement Request form, UFF-D must be accompanied by the completed Budget for Commercial Grant form (rev. 11/24/92) (original and 2 copies) identifying the expenditure category(ies), amount(s), and program identification.

      NOTE: In the case of a UFF SHARE account for which an Eminent Scholar has been designated the Fund Administrator, the completed Form UFF-D and accompanying documentation is submitted through the Eminent Scholar's unit administrator to the appropriate Dean.

   2. The appropriate Dean (Extension, Research and Teaching) will review, approve and forward the Disbursement Request to the SHARE Fiscal Section of the Office of the Vice President for Agriculture and Natural Resources.

   3. The SHARE Fiscal Section will review for accuracy and consistency with UFF guidelines, record accounting and other information in the IFAS Central SHARE Accounting and Records System, further process the Form UFF-D and obtain when needed the signature of the Vice President or his/her designee as Fund Administrator. The Form UFF-D will be submitted to the UFF requesting that a check be issued by the UFF to the specified grant account.

   4. When the UFF has issued and returned the check to the SHARE Fiscal Section, a copy of the Disbursement Request Form, UFF-D, the completed Budget for Commercial Grant form and the UFF check will be forwarded to the IFAS Sponsored Programs Office.

   5. The IFAS Sponsored Programs Office will review the Budget for Commercial Grant form for accuracy and submit the Disbursement Request Form, UFF-D copy and the Budget for Commercial Grant form and the UFF check to IFAS Accounting for final processing.