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Processing Gift Funds: Donor Restricted and Donor Unrestricted (DR / DU)

1. Deposit to revenue project (GL)

What

Who

When

How Do I

Receive cash & initiate deposit to appropriate revenue project

University Gift Processing Services (GPS)
(924-7018)

Within 24 hours of receipt

Gift Processing Services:  GPS Gift Intake Procedure

If an appropriate gift account does not exist, see the Creating New Gift Projects procedure.

Create journal entries

University Advancement (Gift Accounting)

 

Gift Accounting:  Day of bank deposit (once transferred from GPS) 

Refer to the General Ledger (GL) Training Guide for assistance creating a journal entry.

2. Create Budgets (GM)

What

Who

When

How Do I

Budget award-project combination using BudgetUVA

Award Key Members:  

Award Manager

Award Oversight 1 or 

Award Oversight 2

After funds are available.

BudgetUVA:  Gift & Endowment Activity report

 

3. Manage Accounts (GL & GM)

What

Who

When

How Do I

Monitor and reconcile expenditures

Preparer (Fiscal Contact)

All units must complete their reconciliations no later than thirty (30) calendar days after the end of the month.

GA (Expenditure Reconciliations) must be completed using Recon@UVA.

For more information visit the ReconUVA Website.

Monitor budget to actual and projected expenditures at the award-project level

Preparer (Fiscal Contact) or

Examiner or

Approver

Preparers, Examiners, and/or Approvers are encouraged to monitor their established award-project level budgets during the reconciliation process.

Reconcilers can review the Budget Balance Available (BBA) report monthly in Recon@UVA.

On-going review of the BBA report can be conducted using the UBI GA_Summary_BBA module.

Monitor budget to actual and projected expenditures at the award level

Award Manager

Award Managers are encouraged to monitor their awards and to manage to established budgets during the reconciliation process.

UBI GA_Summary_BBA module

Filter by "AsOfPeriod" & "Award Mgr"

Review and reconcile gift deposits and other general ledger transactions such as:  cash deposits, expenditure credits, etc.

Revenue Project Manager

All units must complete their reconciliations no later than thirty (30) calendar days after the end of the month.

UBI GL_Details_Recon module

For more information visit the ReconUVA Website.

Monitor Cash Balance

Revenue Project Manager

All units must review their Cash Balances during the reconciliation process.

UBI GL_Cash_Balance_Summary module

Verify and Troubleshoot as Needed (GL & GM)

What

Who

When

How Do I

1. Determine if additional revenue is available to budget.

2. Determine budget, expenses, and encumbrances for each award summarized by project.

3. Determine cash balance for a revenue project with expenditures summarized by project.

4.  Modify budget as necessary. 

Award Key Members:  

Award Manager

Award Oversight 1 or 

Award Oversight 2

As needed

UBI GL_Cash_Balance_Summary module

 

 

 

 

 

 

BudgetUVA