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Daily Deposits

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FAI is responsible for the timely and accurate:

  1. Preparation of foundation and The Endowment Fund receipts for deposit;
  2. Delivery of deposits to the bank via Loomis Fargo & Co.
  3. Recording of receipts in the official accounts for each organization.
  4. Reconciliation of bank statements to the official accounting records
    for each organization.

All deposits to Foundation funds (Ledger 6 projects) must be sent to either Advancement Services or FAI for processing.  If the deposit is for a gift, it should be sent to Advancement Services, where it will be recorded by Gift Processing and then forwarded to FAI for deposit.  If the deposit is for other income, it should be sent directly to FAI, with appropriate documentation. Instructions are outlined in the University’s Administrative Procedures Manual under Notification of Gift Receipts. Forms are located at the web page of Advancement Services – click here

Deposits to ledger 6 projects should never be made through the University Cashier's Office.

FOR UNIVERSITY RULES for Deposit of Funds - click here

 

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