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Gift and Endowment Reconciliation

The Financial and Accounting Services (F&AS) team has resumed the Gift and Endowment Cleanup Project following the completion of the campus’s fiscal year-end close. The project, which was paused in Summer 2025, has now moved forward with key next steps.

Updates

 

Reconciliation Process Overview

  1. Financial and Accounting Services (F&AS) Review

    • The F&AS team will review gift and endowment projects in the Oracle system to ensure Legacy conversion data and income data (payouts and new gifts) are correctly allocated to the appropriate projects and coded to the correct fund number. 

  2. Department Validation

    • As F&AS completes project review files, Campus Fund Managers will be required to validate the reviewed projects.  

    • Departments are responsible for confirming that all expenditures posted to their gift projects are appropriate to the funding source.

  3. Budget Transfers: Once department validation is complete, budget transfers may be only processed between the same fund and same project attribute. 

    • Effective February 26, 2026, budget transfers are no longer the primary tool for moving dollars on any gift or endowment project, regardless of Regental or Foundation fund source. 

    • To move funds between gift projects for actual expenditures, submit a Financial Journal Entry ticket reflecting the expense activity to be transferred. 

    • If the intent is to allocate or subaward a portion of a gift or endowment project to another department (Fin/HR unit) or account, requestors must use one of the following methods: 

      1. Submit a budget request (using the same project and fund attribute for both source and target) to the Budget & Financial Planning team.  

        • Note that this method does not prohibit those new FIN/HR units from spending beyond their initial allocation; requestors must actively monitor activity. 

        • Budget transfers are only permitted for projects under Funds 10001, 60002 and fund hierarchies 1010C and 7000C after the review is complete. Documentation of reconciliation status must be included in the budget request. 

      2. In order to move funds between two separate GFT/END project attributes, units must process an actuals expense transfer between the two projects (the fund number must remain the same) via a Financial Journal Entry ticket. 

  4. Expenditure Transfers

 

University of California, Merced Gift Revenue Guidelines

CCoA Attribute

Regental or Direct Campus Gift and Donation

Foundation Gifts and Donations

Fund

10001
1010C
1020C
60002
7000C
8000C

10000
60001

Fin/HR Unit

Any

Any

Account

480000

590002*

Function

00

80

Program

Any

000

Project

ENDXXXXXXX
GFTXXXXXXX

ENDXXXXXXX
GFTXXXXXXX

Physical Location

Any

000

Sub Activity

Any

000000

 

Year-End Closing Procedures

At fiscal year-end (June 30), all revenue and expenses recorded in account 590002 are cleared as part of a UCOP-required closing step. These amounts, related to Foundation-funded END/GFT projects, are moved to liability account 227000. On July 1 of the new fiscal year, the funds are automatically reallocated back to 590002 and become available for use. No departmental action is required for this annual closing and reallocation.