Common use of Individual Contributions Clause in Contracts

Individual Contributions. A. Definition: Individual contributions include gifts of cash, checks from personal bank accounts or personal credit cards, gifts of publicly traded stock and matching gifts related to individual donations. B. Administration of Individual Contributions 1) Both the School District and XEF shall continue to receive and acknowledge contributions from individuals directed to it. 2) XEF shall ensure proper recording of all gifts and contributions it receives from individuals and shall manage the funds in accordance with generally accepted accounting standards. The funds shall be administered subject to audit and in compliance with Florida and Federal requirements. 3) Individual contributions designated by a donor in support of a district program or project (Funds Held for Others (FHFO) will be assessed a five percent (5%) administrative fee upon receipt of funds. C. Disbursement of Individual Contributions of FHFO 1) XEF shall disburse these funds in accordance with the restrictions set by the donors. XEF shall make disbursements in a reasonable time after qualified written XEF request are made by the FHFO designee. 2) A qualified written request includes the following elements: validated written invoice with original signature of a FHFO designee; payee contact information; original receipts or detail of incurred expenses for reimbursement or a detail of anticipated budgeted expenditures; current date and date expenses were incurred.

Individual Contributions. A. Definition: Individual contributions include gifts of cash, checks from personal bank accounts or personal credit cards, gifts of publicly traded stock and matching gifts related to individual donations. B. Administration of Individual Contributions 1) Both the School District and XEF PEF shall continue to receive and acknowledge contributions from individuals directed to it. 2) XEF PEF shall ensure proper recording of all gifts and contributions it receives from individuals and shall manage the funds in accordance with generally accepted accounting standards. The funds shall be administered subject to audit and in compliance with Florida and Federal requirements. 3) Individual contributions designated by a donor in support of a district program or project (Funds Held for Others (FHFO)) will be assessed a five percent (5%) administrative fee upon receipt of funds. C. Disbursement of Individual Contributions of FHFO 1) XEF PEF shall disburse these funds in accordance with the restrictions set by the donors. XEF PEF shall make disbursements in a reasonable time after qualified written XEF PEF request are made by the FHFO designee. 2) A qualified written request includes the following elements: validated written invoice with original signature of a FHFO designee; payee contact information; original receipts or detail of incurred expenses for reimbursement or a detail of anticipated budgeted expenditures; current date and date expenses were incurred.