In response to department requests to reduce the effort required to transfer small balances from SFFDN to other Business Units and to assist departments in managing their funds, Gift and Endowment Accounting made a transfer of small balance (<$100,000) gift and endowment income funds in October. The transfer totaled $12.1 million and impacted over 700 relatively small Foundation projects.
Only projects exempt per UCSF policy will be excluded from the 6% Infrastructure & Operations (I&O) revenue assessment that will run during October month-end close.
Gift and Endowment Accounting expects to make similar transfers on a quarterly basis. Balance thresholds may change for future transfers; information on future transfers will be disseminated in future Newsletters.