This policy establishes guidelines and requirements for University and/or Medical Center units wishing to create Quasi Endowment accounts in order to invest funds in the University of Virginia Investment Management Company’s (UVIMCO’s) Long-Term Pool to meet long-term financial needs.
This policy describes how credit may be extended to students, faculty, staff, and other customers of the University and, once credit is established, how the receivable is to be collected. This policy and associated procedures are designed to minimize the number and amount of past due (delinquent) accounts receivable and the write-off of uncollectible balances.
The University is committed to protecting cardholder data from loss or compromise. Consistent with that commitment, the University requires adherence to the Payment Card Industry Data Security Standards (PCI-DSS). In addition to protecting cardholder data, adherence to PCI-DSS reduces the likelihood of fines, penalties, and reputational damage to the University associated with data breaches.
This policy sets forth the requirements for establishing and managing University revenue generating activities and the rates that can be assessed: 1) to students as a condition of their enrollment; 2) by internal support service units; and 3) as nuisance charges to prevent abuse of services. This policy is necessary so that the assessed rates reflect actual costs and are consistently applied.
Establishes the authority to approve individual quasi-endowment transactions.