Endowments

PAYING FOR LIBRARY MATERIALS & RESOURCES WITH ENDOWMENT FUNDS

  1. Two guiding principles apply to this process:
    1. Two administrators in University Libraries have signature authority over any acquisition of library resources with endowed funds:

i.Dean of Libraries 

ii.Associate Dean for Scholarly Resources 

  1. Acquisitions & Collections Services Department (ACS) is responsible for reporting all library resource purchases to UF Property Management
  2. The process of acquiring library resources with endowment funds involves the fund curator, department chair, either Associate Dean or Dean, the Development Assistant in Administration, the fund liaison in ACS, and staff in the Accounting & Serials Unit in ACS, typically the Unit Manager. It is preferred that Unit Managers of Collections Support and E-Resources Units are included in the correspondence as appropriate. 
    1. The process begins with the curator determining funds are sufficient to cover the purchase; then 
    2.  Proposing such a transaction and submitting the proposal through their department chair to the Dean or Associate Dean for Scholarly Resources for approval
    3. If the proposal is approved, approval notice is given to the curator, Development assistant, and to Accounting & Serials Unit (ASU) Manager
    4. Development assistant or ASU Manager verify availability of funds from the Endowment Quarterly Reports and PeopleSoft
    5. ACS

i.Checks the Alma line item budget for sufficient funding and increases the budgeted amount as needed

ii.Notifies all parties involved that funds are in place and ordering/invoicing/paying can proceed

iii. Ordering staff in ACS places the order

  1. When resource is received and invoiced, both should be forwarded to ACS, not Fiscal Services, for processing payment.

A final note: Workflows for acquiring library resources with any source of funds available to The Library should involve Acquisitions & Collections Services Department from the beginning to the end of the transaction because we are accountable to UF Property Management for such transactions.