Unrestricted Gifts & Investment Income Funds
Unrestricted Gifts & Investment Income (UGII) funds are an important source of funding for many campus activities. They can be used for any legitimate purpose as authorized by the Chancellor. At The University of North Carolina at Greensboro (UNCG) these funds are provided primarily by the following:
- ❖ The Alumni Annual Giving Campaign;
- ❖ Gifts and other funds provided by foundations, etc. (i.e., the UNCG Excellence Foundation, the Human Environmental Services Foundation, and other unrestricted endowment funds);
- ❖ Investment Income.
Allocations of UGII funds are made in two parts:
- ❖ Part I pertains to ongoing operational matters (i.e., Alumni Scholars, Founders’ Day, etc.);
- ❖ Part II pertains to items that are of strategic importance to moving the University forward. These may be special projects and may have duration of a single year or multiple years with a defined ending date. Strategic proposals that require continuing operating support are considered, but those not requiring such support are more likely to be funded. (Normally, UGII monies are not used to make up for normal operating shortages.)
UGII funds are the most flexible of the available resources. Accordingly, the budget allocation decisions for this source of funding can be deferred until decisions are made for those funding sources with greater constraints. However, the budgeting process must start early enough to allow appropriate identification and review of items of significant importance to moving the University forward. The formal process is normally initiated in March with the projection of available UGII funds and the preparation of division requests and justifications for UGII allocations. The allocation decisions are made by June in order for the funds to be moved and budgets to be established in the Financial Records System to allow purchases to be made as early in the new fiscal year as possible.
Unlike the State Operating Budget, which is a line-item detail budget with restrictions relative to transfers among personnel and non-personnel lines, there are few constraints. The major rule is that there can be no deficit spending and the funds must be expended for the purposes originally designated in the allocation.
Processes such as personnel and purchasing apply to all University resources, not just state appropriated resources.