External Affairs :: Policies & Procedures

The President's Venture Fund was established to assist with significant funding challenges or opportunities (large Grant opportunities at NSF or NIH that require a match of University dollars not previously budgeted, for example). These opportunities are customarily brought to the President's attention by the Provost, with the support of a department head and dean. In addition, the President's Venture Fund supports small programs and projects in amounts typically ranging from $500 to $5,000. Successful letters of request for small grants have included the following:

1. A one-time need, which should not require annual renewal or be part of a regular annual budget. Special conferences, performances, and start-up costs are all good examples;
2. A demonstration of matching support at some level - internal, departmental, college or school and/or vice presidential - illustrating an institutional commitment to the program. Letters of support may be attached;
3. A budget, with the portion of the event to be funded by the Venture Fund clearly designated.

Funding requests are currently being reviewed at the end of each month, although this time-table is subject to change. One- to two-page letters of request for the Venture Fund with supporting material attached may be sent to:

          President Michael F. Adams
          c/o The President's Venture Fund
          The Administration Building
          The University of Georgia
          Athens, Georgia 30602

Policies and Procedures for Transferring Appropriation

Policy - In order to  fund Venture Fund appropriations in an expedient manner once approved by the President of the University, funds will be transferred to an existing UGAF nonendowed discretionary fund, if available.  If a Foundation fund is not available, a UGA account will be established for the specific purpose as identified by the funding request. .

Procedures -

1. Determine if the award can be transferred to an existing discretionary UGAF fund. If yes, Financial Services should be contacted as indicated on the award letter for further instructions to facilitate the transfer.
2. UGA Foundation Policies and Procedures will be followed for expenditure of these funds.
3. If a Foundation fund is not available for the transfer, a UGA account should be established to receive the award.
4. A "Request for Account Addition/Change" form must be submitted to UGA Accounting, Business Services. This form is available from the University of Georgia website at www.busfin.uga.edu/forms.
   
   Please indicate on this form
   ****"President's Venture Fund Appropriation As Funding Source"****
5. After an account number has been assigned by Accounting, a budget amendment form (Item#12-0670 from COS) must be submitted to the Director of UGA Budgets, Business Services.
6. UGA Policies and Procedures for Expenditures apply to expenditure of these funds.
7. The Venture Fund account will remain open for twelve months from the date of account setup. If there are unexpended funds at the end of this twelve month period, the UGA accounting office will notify the department of their intent to close the account and to transfer any remaining account balance to the UGA Foundation for deposit to the President's Venture Fund.

Acknowledgements - Public acknowledgement of funding through the President's Venture Fund should be included in any printed programs, reports, or publicity materials as well as any verbal thanks to sponsors. Please use the following single line of text for such acknowledgements:

This program is supported in part by the President's Venture Fund
through the generous gifts of the University of Georgia Partners.

Follow-up Report - A brief, one-page letter of report must be submitted following the completion of any program, activity, or event funded through the President's Venture Fund. The report should summarize the highlights of the program, attendance, discussion, and any other details that would help illustrate the impact of this program on the University and those in attendance. Included with this report, should be a summary of expenditures. The report should be sent within 60 days of the completion of the program to:

          President Michael F. Adams
          c/o The President's Venture Fund
          The Administration Building
          The University of Georgia
          Athens, Georgia 30602