Access to Gift Accounts by Retired Faculty

Date: February 25, 2015
Policy ID: 1.510
Status: Final

Contact Office:
Controller
Dean’s Office, School of Medicine
PO Box800796
Charlottesville, VA 22908
phone: 434-924-8412
fax: 434-924-8173

Oversight Executive:
Chief Operating Officer
PO Box 800793
Charlottesville, VA 22908
Phone: 434-297-7492
Fax: 434-982-0874

Applies to:
Retired School of Medicine faculty members with gift accounts that are designated for support of his/her research or academic activities.

Reason for Policy:
This policy clarifies the circumstances and means by which a retired faculty member may access a gift account designated for his or her research or academic activities.

Definition of Terms:
Retired faculty member–A member of the School of Medicine faculty who has retired and has no paid relationship with the University of Virginia.

Policy Statement:
When a faculty member who has retired from the University of Virginia School of Medicine, wishes to continue research or academic activities, and has gift funds that are designated for support of his or her research, he or she may continue to request the use of those funds as described in this policy.

Any gift funds designated for a retired faculty member will revert to the department in which the faculty member had a primary appointment upon his or her retirement. The department chair will ensure that the funds are used according to the donor’s wishes. If the retired faculty member has a current non-salaried faculty appointment, he or she may request that the chair approve expenditure of the funds in support of his or her research, academic, or clinical activities that are in alignment with the donor’s intent. This decision is at the discretion of the chair and either the chair or the department administrator must approve all expenditures made on behalf of the retired faculty member’s activities.

Policy Background:
Gift funds are given to the institution and not to an individual faculty member. In general, individuals who are not employees of the University of Virginia are not allowed to spend from University accounts.

Revision History: Implemented 2/27/04; administrative updates 2/25/15