[Major revision–posted 1/14/22 (replaces 4/25/12 edition)]
Operating Policy and Procedure
OP 02.01: Texas Tech University Office of Advancement Relationship and Responsibilities
with Texas Tech University System Institutional Advancement and Texas Tech Foundation,
DATE: January 14, 2022
PURPOSE: The purpose of this Operating Policy/Procedure (OP) is to set forth Texas Tech University's (TTU) and Texas Tech University Office of Advancement's (TTU Advancement) relationship with the Texas Tech University System (TTUS) Office of Institutional Advancement (TTUS Institutional Advancement) and Texas Tech Foundation, Inc. (TTFI).
Another purpose related to the above subject is to clearly set forth the responsibilities of TTFI, TTUS Institutional Advancement, TTU Advancement, and the Texas Tech University Office of Administration & Finance.
REVIEW: This OP will be reviewed in April of even-numbered years by the Vice Chancellor for Institutional Advancement (VCIA) and the Vice President for TTU Advancement (VP). Changes regarding financial procedures will be made with the concurrence of the Vice Chancellor and Chief Financial Officer (VCCFO) and the Texas Tech University Senior Vice President for Administration & Finance and Chief Financial Officer.
1. Relationship between Texas Tech University, Texas Tech Foundation, Inc., and TTUS
a. Purpose of Texas Tech Foundation, Inc., and TTUS Institutional Advancement
Texas Tech Foundation, Inc., is organized for and operates exclusively to: (1) support and promote all components of the Texas Tech University System: Texas Tech University, Texas Tech University Health Sciences Center, Texas Tech University Health Sciences Center El Paso, Angelo State University, and Midwestern State University; (2) seek and obtain gifts for such components; (3) receive, hold, invest, and administer property of any kind, type, or nature gifted for the benefit of the components; and (4) make expenditures to or for the benefit of one or more of the components. TTUS Institutional Advancement manages these functions for TTFI and serves to broadly oversee and coordinate all fundraising operations throughout TTUS.
b. Application of Regulations and Operating Policies and Procedures
TTUS Institutional Advancement operates exclusively under Texas Tech University System Regulations, which supersede TTU OPs, wherever such regulations exist. Should no regulation exist, TTUS Institutional Advancement will follow TTU OPs where reasonably possible. All regulations or operating policies and procedures concerning TTUS Institutional Advancement shall also apply to TTFI, to the extent applicable, unless expressly stated otherwise.
2. General Division Responsibilities
a. TTUS Office of Institutional Advancement
(1) TTUS Institutional Advancement is responsible for coordinating, approving, and reporting all fundraising from the private sector. This includes both projects and proposals initiated by TTU Advancement and those initiated elsewhere in TTU and its related corporate entities. To fulfill its mission, TTUS Institutional Advancement must be kept informed in a timely fashion on all actions related to fundraising.
(2) TTUS Institutional Advancement is responsible for performing certain support functions for TTFI. This includes depositing, receipting, acknowledging, and reporting gifts received by TTFI for the benefit of TTU.
(3) Gifts made to TTU, TTUS, and TTFI for the benefit of TTU shall be reported by TTUS Institutional Advancement to the President and the Chancellor. The VCIA is responsible for preparing Board of Regents agenda items relative to gifts directly to, or for the benefit of, TTU.
(4) TTUS Institutional Advancement will coordinate and communicate with TTU Advancement routinely to discuss potential and ongoing gifts to TTFI, for the benefit of TTU, or those gifts directly to TTU.
b. TTU Office of Advancement
(1) TTU Advancement is responsible for overseeing all fundraising activities at the university and college levels. This includes supervising and advising university development professionals, negotiating service agreements with TTUS Institutional Advancement, communicating university priorities to TTUS Institutional Advancement, and ensuring the President is informed of major fundraising activities, gifts, and goals.
(2) TTU Advancement plays a central role in approving university and college fundraising priorities, monitoring development professional performance, soliciting transformational gifts, coordinating the fundraising activities of the President, and maintaining strong relationships with significant donors.
c. Offices of the TTUS Chief Financial Officer and TTU Administration & Finance
(1) The VCCFO, in cooperation with TTUS Institutional Advancement, will establish the procedures used for accounting and disbursement of all gifts given to TTU, TTUS, and TTFI for the benefit of TTU. The VCCFO has the authority and responsibility for approving the procedures used for receipting, accounting, and disbursement of all funds handled by TTUS and TTU employees.
(2) The TTU Office of Administration & Finance is responsible for maintaining official TTU fiscal records, assuring that all cash gifted directly to TTU is receipted in a manner consistent with the requirements of TTUS regulations and state laws. It is also responsible for assuring donors, the Board of Regents, the President, the Chancellor, and the state auditor that all TTU funds are expended as required by the stipulations imposed by the donor, the Board of Regents, generally accepted accounting principles, and the laws of the State of Texas.
The TTU Office of Administration & Finance will notify TTUS Institutional Advancement of all private gifts to TTU received by that office, maintain fund management policies related to the handling of gifts to TTU, and report fund performance to TTUS Institutional Advancement.
d. All Divisions
(1) TTU Advancement will coordinate with TTUS Institutional Advancement to ensure that all other offices of TTU coordinate and receive approval, in writing, for all fundraising projects funded by individuals, foundations, corporations, and other entities prior to the project.
(2) All offices are responsible for forwarding any gifts received to TTUS Institutional Advancement in a timely manner for deposit, receipting, and reporting purposes.
(3) Appointments to development advisory boards within the colleges and units should be submitted to the VP prior to the individual being asked to serve on said board to avoid duplication in membership on the boards. Additionally, a current list of the membership of development advisory boards can be provided to the VP and VCIA as needed.
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