Review date:
February 08, 2018
Responsible office:
Office of Sponsored Research
Definition
- Fund established for an outside party (the "Principal") that supports or enhances UC's mission.
- UC acting as the Principal’s fiscal agent Benefits both UC and the Principal
- Subject to specific instructions and directives regarding uses and purpose of funds
- Requires one or more UC faculty or staff employee “Sponsors” authorized by the Principal to act on its behalf, responsible for proper administration and monitoring of the Agency Fund
- Sponsor responsibilities may not be delegated
- Fund services are limited to cash receipt and disbursement and use of campus services such as reprographics, purchasing services and occasional payroll services for short term, limited distributions (such as paying Administrative Assistant supporting faculty editor effort)
- Requires positive cash balance at all times
- Upon closure, positive balances are returned to the Principal. (STIP interest will be charged to Agency Funds that are in a financial deficit)
- Funds deposited into the Agency Fund by the Principal are not a tax-deductible contribution to the University
Examples
Overhead Consideration
Policy
Review Department/Signature Authority