I.       REFERENCES AND RELATED POLICIES

 

UC San Diego Policy and Procedure Manual (PPM)

 

150-35 Classification, Acceptance, and Administration of Awards from Private Sources

 

II.     BACKGROUND/PURPOSE

 

STIP earnings on all fund sources at UC San Diego are swept to provide an unrestricted resource to the campus for critical budgetary support of central operations. Included in the central operations is providing all budgetary support of Advancement, the UC San Diego Foundation, and the UC San Diego Alumni Association.

 

III.    POLICY

 

1. Effective July 1, 2009, investment returns earned on current (expendable) gift and private grant funds, held by either the Regents (UCSD campus) or the UC San Diego Foundation will be placed in an account under the control of the Chancellor.

 

2. Endowment payout to Regents or Foundation gift endowment funds, in accordance with Regents or Foundation endowment payout policy, is exempt from this assessment. However, once payout is made available, STIP earned on any accumulated payout balances  are subject to this policy.

 

3. In keeping with legal obligations under established charitable trust laws, this policy will serve to inform donors of the campus policy on gift and grant fund earnings

 

IV.   RESPONSIBILITIES

 

A.    UC San Diego General Accounting Office and UC San Diego Foundation Accounting Office

 

Credit the Chancellor (and any special circumstance exempted current gift and private grant funds) with the appropriate amount of interest earnings per this policy.

 

B.    Department Personnel, Development Officers, Gift Administration, and Office of Contract and Grant Administration

 

Inform donors or potential donors of this policy as necessary

 

V.     REVISION HISTORY

 

2021-02-18  Policy reviewed Updates included - Policy language cleanup and simplification and updated issuing office.