Question
What are common audit recommendations on Gifts?
Answer
Documentation
- Maintain complete documentation on gift budgets so that the department has information needed to spend gift funds in accordance with donor intent.
- Ensure scholarships and fellowships are awarded in compliance with donors’ intent.
- Ensure external funds are properly classified.
Reconciliation/Review
- Verify that the gift receipts sent to Gift Administration and Policy are received and properly recorded to the correct budget.
References
Office of Development & Alumni Relations Gift Processing Guidelines
faqtype
Standard