Transferring Funds from UW Foundation to 233- Projects
Overview of transferring funds from UW Foundation Accounts to 233- projects using the UW Foundation Check Request form and the Gift Check Routing form.
As a part of routine gift project management and to cover new costs you know are going to post, you may need to move money from a UW Foundation account to a 233- project in the UW Accounting system. The chancellor has asked that we clear overdrafts on 233- projects quarterly, this is an update from the former practice of clearing overdrafts annually. You are still permitted to have 233- overdrafts, but we must clear the overdrafts more often than in the past.
How to transfer money from UW Foundation to a 233- project:
Use the UW Foundation Check Request (login, click on Fund Management in red navigation bar, select "Check/ACH request from the pull down menu) and Gift Check Routing Form (select Gift Routing Form - create new entry). Gift Check Routing Form Instructions.
- Fill out the forms online, print them out, get the required signature(s) and send the original hard copy of both forms together to Mary Machaj 408 South Hall.
- No documentation is needed for this kind of fund transfer, but you may send attachments if you like.
- The department with the UW Foundation fund prepares and signs the UW Foundation Check Request
- The department that controls the 233- fund prepares and signs the Gift Check Routing Form.
- Send the forms together or separately to Mary Machaj, 408 South Hall; if sent separately, please attach a note.
- Send a signed Gift Check Routing Form; L&S will prepare the Foundation check request to match when your gift check routing form arrives.
- Examples: Hamel faculty fellowships, Halls visiting fellowships, Associate Dean funding.
Tips for filling out the UW Foundation Check Request for transfer to 233-
- When you get to the second page the Fund Management Tool will prefill the form when you select the "Payment type" from pull down as "UW Board of Regents/233 transfer" Use this to quickly complete the page.
- Purpose of Expenditure: Add any additional info that will help you keep track of the purpose. No justification is required for these transfers, they are up to the discretion of the department.
- When you have printed out the hard copy, your Chair/Director (or Associate Chair/Director) will sign on the top line of the "University of Wisconsin Approvals." The second line is for the L&S divisional level approval signature.
Tips for filling out the Gift Check Routing Form to accept a transfer of UWF money:
- Use yourself as the contact, click on the "Add/Change" button, do a search for your last name.
- For these transfers from UWF, always fill in "UWF" as donor, not the name of the UWF fund or some other name.
- Check number and date will default to "TBD" once you have completed the contact information, filled in UWF as the donor and completed "Option 1 (existing account) or Option 2 (new account) at the bottom of the form.
- If you have trouble with the form, try a different browser, sometimes that helps.
THINGS TO REMEMBER:
- Money from the UW Foundation can ONLY be deposited into 233- accounts; no other UW accounts accept Foundation funds or other gift funds.
- Money can only go from the UW Foundation to a UW 233- account, it
can't go back. It's a one way trip from UWF to UW.
- It's up to you whether to create a new 233- or deposit the money into an existing 233-. These projects are set up for the department's convenience, so do whatever makes it easiest for you to track the funding.
- If you have questions, call Mary Machaj at 263-2316 or Ben Ball at 265-1170.
UW FOUNDATION CHECK REQUEST (login, click on Fund Management in red navigation bar, select "Check/ACH Request" from the pull down menu)GIFT CHECK ROUTING FORM (Select Gift Routing form in "Routing and Approvals section of page, on next window select "Check Routing Form - Create New Entry")
GIFT CHECK ROUTING FORM INSTRUCTIONS
UW FOUNDATION: 1848 University Avenue, 263-4545
UW Foundation Management System
ACCOUNTING SERVICES: 21 N. Park St. Suite 6101, 262-1214
http://www.bussvc.wisc.edu/acct/acct.html Gifts: http://www.bussvc.wisc.edu/acct/gifts/gifts.html
RSP: 21 N. Park St. Suite 6401, 262-3822
http://www.rsp.wisc.edu/ Gifts: http://www.rsp.wisc.edu/gifts/index.html
L&S: Ben Ball 201D South Hall, 265-1170, email@example.com or Mary Machaj,273-2316, firstname.lastname@example.org
Please send forms to Mary Machaj, 408 South Hall
- Original, no copies.
- No staples, use clips.
- Blue ink signature preferred.
- How to pay using UW Foundation Funds
- Depositing Gifts into UW Foundation Funds and 233- Projects
- UW Foundation Overview
- How to clear overdrafts on 233-gift accounts
- Frequently Asked Questions about University Policies Related to UW Foundation Gifts and Other Accounts
- Gift Acknowledgment
- UW Foundation Accounting Structure, 2014