PROCEDURE FOR TRUST FUNDS
The Dean, Director or Principal who is responsible for a particular trust fund must ensure that the correct procedures and guidelines are observed in accordance with the approved terms and conditions of the trust and this policy.
Requirements for establishment of trust funds
In order to establish a trust fund, certain details must be provided to the Finance Committee of the Board of Regents.
To properly establish a trust fund, the following information should be provided with each request:
All necessary information should be completed by the person within the University who wishes to establish a new trust fund, or by the person who is the University representative contacted by persons outside the University who wish to establish a trust fund.
A brochure available from the Office of Alumni Affairs and Development provides the suggested wording to be used when creating trust funds. This wording is designed to reduce administrative expense and to ensure freedom of investment and application of the trust fund.