Trust Funds

Processing Guidelines/Procedures

Minimum Balance Requirements

  • The initial deposit for all QE temporary accounts must be at least $5,000.
  • To participate in the annual sweep from 161 to 162-IT fund balance must be at least $5,000.
  • No limit on deposits to the 162-LT fund.

Receipts/Deposits

An Extramural Support Transmittal Form (T form) or alternate documentation and the funds should be sent to the UW Trust Funds office immediately upon receipt. This document should provide the following information:

  • account the funds should be deposited into (or request for a new account)
  • investment vehicle to utilize (IT or LT, all deposits to fund 162).
  • proposed use of the funds

Dean signature required to authorize deposit into Trust Funds. In the event there are multiple donors, all checks under $100 will be aggregated into a single deposit labeled "multiple donors". Each week, Trust Funds receipts are deposited in the State Treasury per Sec. 20.907(2) and 20.906 Stats.

Payments/Transfers

UW Trust Funds staff reviews all payments and transfers from Trust Funds accounts on a "post-audit" basis. The UW Processing Center completes a pre-audit review for compliance with University guidelines/State Statutes. The UW Processing Center issues a check and delivers it to the requested party. An electronic file of these payments is then loaded to the UW Trust Funds accounting system for review. Compliance with the terms and conditions of the account as well as funds availability is verified. In the event a payment is rejected, the charges are moved to another funding source for reconciliation and correction.

Note: For non-salary transfers, a copy of the original invoice and orginal voucher number should be provided. This allows for verification of compliance with account terms.

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