Annual Trust Fund Review Information

Questions? Please Contact:

Nikki Anderson
Extension:4-2488
nikki.anderson@sonoma.edu.

At the beginning of every October, we undertake a yearly trust fund review to ensure that the trust information we have on file is accurate and complete. Having accurate information on file will enhance our ability to serve your needs and ensure compliance with CSU and State guidelines for Trust fund administration.

Please take time to review all elements of your Fund Agreement and fund activity carefully. Pay special attention to the accuracy and completeness of the following information:

  • Trust Name
  • Purpose
  • Source of Funds
  • Types of Expenditures
  • Restrictions
  • Report Distribution
  • Expected Duration
  • Disposition of Funds
  • Current Authorized Signers
  • Donor Intent

Please return your electronic trust fund certification via the "Submit Certification" link found at the bottom of the Trust Fund Certification form or email nikki.anderson@sonoma.edu by TBD. It is important that you understand that we will be unable to process your transactions for these funds if we have not received these documents by the date requested.

NEW - Electronic Certification:

We have transitioned the Annual Trust Fund Certification review to a paperless process.

  • Current Trust Fund Agreements

    University Trust Fund Agreement Guidelines

    We want to take this opportunity to remind you of the following guidelines and standards that pertain to Trust Funds.

    • All Trust Funds must be self-supporting and maintain positive cash and fund balances. Deficits are not permitted.
    • For all Trust Fund Agreements, please be specific about the sources of revenue and types of expenditure transactions that will be processed in your funds. When you cite types of expenditures, provide actual examples of expenditures that will be charged to the fund. Use phrases similar to “Expenditures to support the business purpose of the trust including payroll, travel, office supplies, guest lecturers, hospitality…”. Expenditure transactions that you submit for payment will be audited for compliance with the types of expenditures cited in your Trust Fund Agreement.
    • For Donor (C0xxx X S0xxx) Trust Fund Agreements, be certain that the expenditures that you cite are consistent with Donor intent. Also, use the phrase “Donor Intent” in the Restrictions section of the Trust Agreement.
    • The names and sample signatures of all individuals who are authorized to approve financial transactions (including Deans and Administrative Managers) must be provided in the Authorized Signers section of all Trust Fund Agreements.
    • New Trust Fund Agreements must be submitted any time there are revisions to any of the information cited above (Name, Purpose, Source of Funds, Types of Expenditures, Restrictions, etc.).
    • To ensure compliance with CSU and State guidelines, the names of all individuals authorized to disburse funds must be included in the Current Signers section of the Agreement.

    Common FAQ's Regarding Annual Trust Fund Review

    How do I know whether I have to do a whole new fund agreement, or whether I can note the changes here?

    Any changes made to your current Trust Fund Agreement need to be formally submitted with an updated, signed Trust Fund Agreement form or University Course Fee Agreement. This includes any changes made to current signers, trust name, source of funds, types of expenditures, restrictions, and course fee amounts. In the event there are changes to course or misc. course fees, an approval from the President will be required.

    What form do I use to update or create a new fund?

    Are you going to close my fund if it has remained inactive the prior three fiscal years?

    We encourage all of the Trust Fund Agreement Signers to review financial reports generated by the CFS Data Warehouse regularly to verify revenues, expenditures and fund (cash) balance. In the event the fund has remained inactive for the prior three years, the General Accounting Unit will be notifying you and requesting a proposed spending plan showing anticipated revenues and expenditures along with supporting documentation. Should you have questions on generating the necessary CFS Data Warehouse Report to determine a fund's financial status, please visit www.sonoma.edu/finance - General Accounting - Annual Trust Fund Review Information. In the event a Fund has remained inactive for the prior three years, the error below will be noted at the end of your trust fund agreement. We encourage the Agreement holders to review their trust fund carefully, and contact Financial Services to update the status of their fund.

    How do I know whether I have a University Trust Fund, Donor Trust Fund, or a Course Fee Trust Fund?

    Donor Trust Funds start with either a S0xxx or a C0xxx, while all other trust funds are considered University Trust Funds. Updating either a University Trust Fund Donor or Non-Donor Trust Fund agreement can be done with the same University and Donor Trust Agreement. A trust fund is considered a Fee Based University Trust Fund (course fee) when they start with a RTxxx, you will need to download and complete the University Course Fee Agreement .

    Data Warehouse for Trust Fund Activity

    How do I review current financial information for my fund in CFS Data Warehouse?

    In order to review current Fund Activity we have provided below three, easy to follow Data Warehouse Tutorials to help you access your current day financial activity as well as current cash balances of your Trust Funds:

    First Tutorial: How to Log-In and Access Useful Financial Information
    - This first tutorial will guide you on where to access your fund's financial activity and fund balances under the Financial Reporting dashboard.

    Second Tutorial: How to Access Current Expenses and Revenues
    - This tutorial will allow you to gain a detailed list of expenditures and revenues by each account for the current fiscal year.

    Third Tutorial: Current Cash Available
    - This tutorial will allow you to access your current cash balance for each fund less any current liabilities or pending encumbrances.

    For more information regarding CFS Data Warehouse and available tutorials, please visit the Data Warehouse Training Website.