Is it ever appropriate to directly deposit money into a gift fund via a Report of Money Received?
A. Typically, proceeds that are credited to a gift fund are swept over from the UIF, since most of the money coming into a gift fund is gift revenue from donations/gifts. However, occasionally a unit may receive a reimbursement or reimbursement for an expense that was posted to their gift fund. In these cases, this reimbursement/refund can be deposited directly into the Banner gift fund without going through the Foundation. These deposits are made through the applicable campus’ Cashiering office on a Report of Money Received form. These types of deposits (i.e., reimbursements) do not need to be deposited through the Foundation since they are simply reimbursements, not gift money. The unit needs to ensure that the funds are credited to the same C-FOAP string where the original expense incurred – this means that the reimbursement must be deposited into the same expense account code that was used for the initial, related charge. Also, it is important to explain in the description of the R
