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GIFT ATTRIBUTES ON SPEEDTYPE

The Gift Attributes on Speedtype initiative enhances the Finance System by providing additional information fields in order to:

  • Provide reasonable assurance that all gift SpeedTypes have sufficient information for the organizational unit to understand and comply with the gift purposes
  • Identify gifts received through the CU Foundation versus other sources
  • Create a one-to-one relationship between the CU Foundation gift account and the University's gift FOPPS (Speedtype)
  • Provide information to facilitate the Restrictions on Gift Fund Journal Entries
  • Provide information to facilitate the Automatic Transfer Process for CU Foundation Funds


This initiative is a modification to the Finance System that adds a new attribute tab to the Speedtype page (see current proposed tab design at Proposed Speedtype Gift Attribute Page.doc) which identifies whether or not the Speedtype has a relationship to CU Foundation and which also provides the following information. These attributes are required unless otherwise indicated below.

Attribute Name and Description YesNo
Foundation Related. Checkbox should be checked if the SpeedType is to receive transfers from the CU Foundation. Checkbox should not be checked if the SpeedType is to receive transfers from the CU Foundation.
Foundation Fund Number. Will be selected from a drop down list that is limited as explained below. Not applicable.
Foundation Fund Status. Provided by CU Foundation to identify if an active or inactive fund. Not applicable.
Description - Foundation Fund Name. Provided by CU Foundation. Completed by University Treasurer.
Gift Purpose Code 1 - See listing at Proposed Purpose Codes 03202006. Provided by CU Foundation. Completed by University Treasurer.
Gift Purpose Code 2 - Indicates if allowable for entertainment and donor cultivation personal recruitment (see Alcohol Purchase and Provision) Provided by CU Foundation (may be blank if appropriate). Completed by University Treasurer (may be blank if appropriate).
Gift Description - Explains the purpose of the fund, such as gift usage and restrictions. Provided by CU Foundation. Completed by University Treasurer.
Other Comments - Provides additional information about the gift purpose, such as history. Provided by CU Foundation (optional). Completed by University Treasurer (optional).
Available Balance- See definition below. Provided by CU Foundation. Not applicable.
Gift Approver - See definition below; includes following information: - -
Emplid Provided by CU Foundation. Completed by University Treasurer.
Name. Information is updated from HRMS. Information is updated from HRMS.
Phone/Email. Information is updated from HRMS. Information is updated from HRMS.
Campus Box. Information is updated from HRMS. Information is updated from HRMS.
Alternate Gift Approver - See definition below;; includes following information: - -
Emplid Provided by CU Foundation. Completed by University Treasurer.
Name. Information is updated from HRMS. Information is updated from HRMS.
Phone/Email. Information is updated from HRMS. Information is updated from HRMS.
Campus Box Information is updated from HRMS. Information is updated from HRMS.


The one-to-one relationship between CU Foundation accounts and University FOPPS (Speedtypes) will be enforced at the time a Speedtype is created (any subsequent modification). It is important to understand that all CU Foundation gift expense codes (see listing at Proposed Purpose Codes 03202006) have defined allowability relationships with the University Expense Purpose Codes (EPC - see definitions see https://www.cusys.edu/controller/fin-system-values.html") and and Auxiliary Enterprise attributes (see definitions of values in Attachment B at https://www.cu.edu/controller/CUonly/Accounting%20Directive%20-%20TABOR%20Enterprises%2001_20_05.doc.) These relationships are shown by the crosswalk at https://www.cusys.edu/controller/documents/Proposed%20Purpose%20Codes%2003072006.xls.

Therefore, when a CU Foundation fund number is being selected on the gift attribute page, the information available to populate the fields will be limited to

  • A Speedtype with an allowable EPC and Auxiliary Enterprise, as assigned to the Speedtype's Program (see definition seehttps://www.cusys.edu/controller/fin-system-values.html")
  • CU Foundation funds with an Active status
  • CU Foundation funds not already associated with a University FOPPS (Speedtype)


Speedtypes are created by selecting Fund, Org, Program/Project and Subclass (optional) Chartfields. No additional attributes are being added to these Chartfields - just to the Speedtype itself. However, it is important to remember the EPC and Auxiliary Enterprise attributes used in defining allowability are attached to the Program Chartfield.


As a result of these changes, the Reorg function in the Finance System will be disabled for Fund 34 FOPPS (Speedtypes) (fund 34 only). If a Fund 34 needs a Reorg, the Office of University Controller can assist you in this process. We are investigating long-term system solutions.


In addition, to the attribute fields above, the University also is investigating the ability to attach electronic imaged documents to this page in order to provide additional information about the gift purpose, such as excerpts of the donor gift agreements. Although this functionality will not be available at the initial implementation date, it is considered as being critical functionality for this project.


Access to the attribute fields above will be restricted and can only be updated by the campus controller offices and the Treasurer's office. As result, the Chartfield request forms will be modified to facilitate capturing all information required for a Fund 34 SpeedType. (The proposed revisions to the request form should be available on the project website by the end of January). Where the field is identified as being provided by the CU Foundation, the information will only be updated through a system interface. Such information will be updated weekly, with the exception of newly created CUF accounts for which information will be sent to the university every business night. All changes to the attribute fields will be effective dated and history rows will be maintained.


The attribute fields above need to be populated prior to the implementation date. The Office of University Controller (OUC) is preparing a list of all existing University FOPPS (Speedtypes) and CU Foundation accounts by organizational unit. The OUC will work with each organizational unit to populate the fields during the months of January and February. After confirming the information, the OUC automatically will update the system. In order for a Speedtype to remain in active status after the project implementation date, all of the attribute fields above must be populated.


The Available Balance Field


The available balance at the CU Foundation generally is equal to the cash balance of the CU Foundation fund. However, the available balance will be set to $0 if:

  • The CU Foundation fund status is Inactive
  • The source of the CU Foundation fund is earnings from an endowment account (pure or quasi) which was established after 02/09/2005 and does not have a fund agreement on file at the CU Foundation
  • The source of the CU Foundation fund is earnings from an endowment account (pure or quasi) which was established after 02/09/2005 (with a fund agreement on file at the CU Foundation) and where the current value of the endowment is not at least greater than an minimum amount established by the CU Foundation to protect the integrity of the principal


The Gift Approver Field


The gift approver is a new role in the Finance System. This role grants permission to the following identified individuals to approve journal entries affecting their gift FOPPS (Speedtype) provided that the other half of the journal entry involves a gift FOPPS (Speedtype) that has a compatible gift expense purpose code.

  • Gift Approver=Program Fiscal Manager
  • Alt. Gift Approver 1=Program Fiscal Principal
  • Alt. Gift Approver 2=Organization Fiscal Manager
  • Alt. Gift Approver 3=SpeedType Additional Contact
For more information about journal entry restrictions, see the section Restriction on Gift Fund Journal Entries.


Gift Fund Set-up


To streamline the process to create gift funds at the CU Foundation and Speedtypes at the University, a new single form has been created. This set-up form will be used to create, change or close CUF funds and University Speedtypes related to gifts. The form can be accessed at https://www.cu.edu/forms/forms_download/fin/Gift-Setup.xls

 

 
       
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