This fund has two categories: Unrestricted Current Funds and Restricted Current Funds.
Unrestricted Current Funds consist of general revenues generated from tuition, fees, miscellaneous revenues, sales and services of auxiliary enterprises to support the general operations of the university. Annually, the university administrators decide the allocation of these monies to approved cost centers. These allocations are usually referred to as the "annual budget."
Restricted Current Funds consist of gifts, funds donated or set aside to fund specific project or purposes. From the operational standpoint, the Restricted Current Fund is composed of two types: Restricted Current Funds and Agency Funds:
A. Restricted Funds are created by gifts received by the university. Gifts received with restrictions are accounted for separately in a specific restricted gift fund account. These gift funds are established at the request of the University Advancement Office and approved by the Vice President for Finance and Investments. The use of the funds must be in accordance with the donor's wishes. All gift receipts to these accounts must be processed by the University Advancement Office.
B. Agency Funds represent funds set up to account for activities outside the approved budget. These funds can be requested by the cost center/fund manager, but must be approved by both the area vice president and the Vice President for Finance and Investments.
Grant funds are funds received by the university from governmental or private organizations for specific projects or purposes. Restrictions are established by the grantor as part of the grant award. Grant funds are accounted for separately.
Phone: 206-296-5880Fax: 206-296-5896
Mailing address: 901 12th AvenueBox 222000Seattle, WA 98122-1090
Location:O'Brien Center for Athletic Administration1218 E. Cherry Street Seattle, WA 98122-1090