Where tax-exempt debt is used to finance the construction or acquisition of facilities and capital equipment, the University must comply with IRS laws and regulations applicable to Private Business Use. This policy formalizes the responsibility of managers in enabling the University to comply with Internal Revenue Service (IRS) laws and regulations on Private Business Use.
This policy establishes guidelines and requirements for University, Medical Center, and/or College at Wise units wishing to create Quasi Endowment accounts in order to invest funds in the University of Virginia Investment Management Company's long-term pool to meet long-term financial needs.
Policy Link (https://uvapolicy.virginia.edu/policy/FIN-026)
Differentiating between gifts and sponsored programs is critical to assuring the appropriate management of awards to the University. This policy identifies characteristics of gifts and sponsored programs to assist University personnel in determining how to handle funds associated with each type of support.
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.
Establishes the authority to approve individual quasi-endowment transactions.
