1. Institutional Trust Funds Office East Carolina University Financial Services, MS E. 10th St. 2nd Floor

2. Fund Types

3. What are Institutional Trust Funds?
Are established at the University level by authority of Chapter 116, Article 1 of the General Statutes
Are set up for specific business purposes as determined by the approved Fund Authority, and in compliance with UNC-FIT and University guidelines
Are NOT state appropriated
Are NOT for personal benefit
G.S

4. Types of Institutional Trust Funds

5. Overhead/Indirect Cost Funds
Begin with 12xxxx
Indirect cost earned from grants
No other funding should be deposited or transferred into these funds
Expenditures must be research related
Established at college or division level

6. Overhead/Indirect Cost Funds (cont.)
According to University Spending Guidelines, Overhead Receipt Funds may not be used for:
Legal Costs (attorney fees related to patents are allowed)
Lobbying Costs
Memberships in country clubs, social or dining clubs and organizations where purpose is lobbying
Organizational costs of establishing a new organization e.g., broker’s fees, incorporation fees, attorneys, etc.
Personal use goods or services
Selling and marketing costs of products or services
Student activities costs (publications, clubs, athletics, etc.)
Travel or subsistence or living allowances for Board of Trustees or Board of Governor
Alcoholic Beverages
Alumni Activities
Bad Debts
Charitable contributions, donations, gifts
Commencement and Convocation Expenses
Disallowed direct costs (Grants Office is responsible for checking for these types of expenses)
Entertainment costs
Fines, penalties, damages and other settlements
Fund raising and investment management costs
Investment costs, borrowed capital, etc.

7. Institutional Trust - General
Begin with 141xxx
Must be expended in accordance with approved fund authority form, University policies, and UNC-FIT guidelines
Examples
Royalties, patents, copyrights
Student activity programs
Service centers if self-supporting (not captured in Auxiliary range)
Fees for contract services

8. Institutional Trust - Residual Funds
Begin with 143xxx
143xxx are residual balances transferred from grants
No other funding should be deposited or transferred into these funds
Expenditures must be research related
Established at college or division level

9. Auxiliary Funds Begin with 31xxxx
Includes student auxiliaries, institutional auxiliaries, and service center operations
Self-supporting entities
Examples
Parking and Transportation
Student Health Center
Housing and Dining
Student Stores

10. Restricted Trust Funds
Must be used only for the donor-restricted purpose
Restricted Trust Funds begin with 23, 24, 25, 27
Restricted Endowments begin with 2E, 6C, 6Z, 6R
3 parts: Corpus (6C or 6Z), Restricted (6R), Spendable (2E)
Corpus and Restricted Funds cannot be spent
Principal is invested and interest earned is allocated annually to the spendable fund in accordance with ECU’s endowment policy.

11. Agency Funds Begin with 8xxxxx Funds Held for Others
Use account “Funds Held for Other Noncurrent” for all transactions

12. Operation and Use of Trust Funds
Need to maintain a positive cash balance
Must be used as documented on the approved Fund Authority
Must follow ECU spending guidelines, and comply with UNC-FIT and the General Statutes
Requires VC approval to establish
Changes in scope, purpose, source of revenue, organizational code, etc. must be reported to the ITF Office
Requires an updated Fund Authority
A new fund may be required

13. Do not use Self Service Banner for Institutional Trust Funds

14. ITF Fund Management
To manage your ITF funds, it is highly recommend to use Internet Native Banner (INB)
Requires the use of only 2 screens:
FGITBAL – Trial Balance
FGIBDST – Operating Ledger (YTD Revenues & Expenses)

15. Cash Balance ecuBIC report INB ODS Quick Queries
ecuBIC report
Finance -> Institutional Trust Funds -> ITF Balances by Acct Pool Summary
ITF ecuBIC Report
ODS Quick Queries
Username and password typically the same as Pirate Port; if need help/reset, put in a ticket with ITCS

16. Use the year we are in or past years for “research”
Cash Balance - INB
Use the year we are in or past years for “research”
Same as last years ending balance
Beginning balance
+ Revenues to date
- Expenditures to date
±Change in A/P
Sharon
-Walk through how to find the ecuBIC report and how to use it. Note the “as of date”
Note: Budget adjustments should not be done thru Banner as is done for state funds; should always use the budget transfer form and send to us! State funds uses the Available Balance column and requires budget transfer for items that go negative. This is not necessary for ITF funds as we do not budget all expenses like state funds do.

17. Cash Balance - ecuBIC Sharon
-Walk through how to find the ecuBIC report and how to use it. Note the “as of date”
Note: Budget adjustments should not be done thru Banner as is done for state funds; should always use the budget transfer form and send to us! State funds uses the Available Balance column and requires budget transfer for items that go negative. This is not necessary for ITF funds as we do not budget all expenses like state funds do.

18. Cash Balance – ODS Quick Query
Sharon
-Walk through how to find the ecuBIC report and how to use it. Note the “as of date”
Note: Budget adjustments should not be done thru Banner as is done for state funds; should always use the budget transfer form and send to us! State funds uses the Available Balance column and requires budget transfer for items that go negative. This is not necessary for ITF funds as we do not budget all expenses like state funds do.

19. Sharon
-Walk through how to find the ecuBIC report and how to use it. Note the “as of date”
Note: Budget adjustments should not be done thru Banner as is done for state funds; should always use the budget transfer form and send to us! State funds uses the Available Balance column and requires budget transfer for items that go negative. This is not necessary for ITF funds as we do not budget all expenses like state funds do.

20. ITF website contains detailed instructions for Xtender
Fund Authorities
Quick access to most recent Fund Authorities
Can search by ORGN or by what the fund begins with (ex. 141* - will bring up all funds in your ORGN range that begin with 141)
Journal Voucher (JVE)
Allows user to check the entry for correctness
Shows entry, all signature, and backup
Receipts
Any checks related to conference/workshop registration fees, rental/lease income, royalty checks, and any other miscellaneous receipts credited to ITF funds will need to be scanned into Xtender.
Please redact any Personal Identifying Information (PII) such as social security numbers, checking/savings account numbers, etc.
ITF website contains detailed instructions for Xtender

21. DocuSign –Fund Authorities
DocuSign will allow departments to create and revise Fund Authorities electronically
Approvers can access the forms through their and provide their electronic signature
This will reduce the time it takes to complete these documents and the documents can be signed from anywhere with access

25. Creating An ITF
Contact the ITF Office to determine if the fund purpose meets the criteria of an ITF
Submit a New Fund Authority form to the ITF Office via DocuSign
New Fund Authority Form
If appropriate, complete a Sales Activity Questionnaire via DocuSign – This will be determined by your answer to “Type of Institutional Trust Fund Requested” on the Fund Request Form
Sales Activity Questionnaire
Once the ITF Office has set up the fund, an approval letter along with a copy of the approved Fund Authority form will be sent to the signers

26. Call the ITF Office if you have any questions
Call the ITF Office if you have any questions. We will be happy to set up a training session if you need further instruction
Make sure all necessary signer names and s are completed correctly because you can’t go back and add approvers
The link to the forms can be found in this presentation as well as on the ITF website

27. What to Expect from the ITF Office
Budget office for Institutional Trust Funds
Load salary and benefit budgets annually
Items that require ITF approval
Journal Entries/IDT’s, Personnel Actions, Direct Pays, ITF Scholarships and Awards
Create, Update, and Maintain all funds in our range
Process Admin Overhead charges and Worker’s Comp fees annually
Analysis and Reporting
Enforce General Statutes, Legislation, and University Guidelines

28. What Can We Do For You?
Please feel free to call us with any questions or concerns. We are here to offer guidance and support!

29. Sharon Cullipher Vacant Cindy Modlin Anthony Bechtel
New Fund Requests, JVEs, Spending Questions/Approvals
Cindy Modlin
Accounting Manager, Financial Statements
Vacant
Endowments, Scholarships, Distinguished Professorships
Anthony Bechtel
Personnel Actions, Payroll Redistributions