Philanthropic Gifts vs. Sponsored Grants
The University must manage all funds received in accordance with applicable federal, state, and local laws, and with the specific terms and conditions of any gift, grant or contract. The University’s approval, negotiation and agreement processes and mechanisms, accounting, budget practices, oversight, and compliance practices differ depending on whether funds received are categorized as a gift or as a sponsored award. The Fayetteville Policies and Procedures 227.0 is intended to facilitate the appropriate classification of gifts vs. sponsored awards and to ensure that external funding directed to the University receives the proper compliance review, administrative oversight, and monitoring.
Please visit the policy page on the VCFA website for more information.