UCLA DA 512.01: Approval of Withdrawals from the UCLA Foundation Quasi –Endowments (FFE)

Date:	June 30, 2015 Print
From:	Chancellor Gene D. Block
To:	Associate Vice Chancellor, Alumni Affairs and CFO UCLA Foundation Julie Sina
References:	UC Administrative Guidelines for Campus Foundations, February 12, 2004; UC Guidelines for Endowment Administration, July 2004; UC Administrative Guidelines for Allocation, Reallocation, and Administration for Gifts Bequest Received by The Regents and The Campus Foundations, September 11, 2006.
Supersedes:	New

Effective as of the date above, I hereby delegate to your position, in your respective area of responsibility, the authority to approve the amount of a principal withdrawal from an FFE having a market value of up to $1,000,000.

Proposals for withdrawal of an FFE having a market value over $1,000,000 are subject to the following approval requirements:

Approval by the CFO UCLA Foundation for withdrawal of up to 5% from the principal (in excess of payout) of an FFE having a market value over $1,000,000, in any one fiscal year (pre-approval has been granted by the Chancellor);
Approval by the campus Vice Chancellor and CFO of any proposal for withdrawal of more than 5% from the principal of an FFE having a market value over $1,000,000 and up to $5,000,000 (pre-approval has been granted by the Chancellor); and
Approval by the President of any withdrawal of more than 5% from the principal of an FFE having a market value of more than $5,000,000.

This delegation must be executed in accordance with the relevant provisions referenced in (a), (b), and (c) above, and any other applicable University policies, procedures, and guidelines governing the particular transaction.

cc:	Executive Vice Chancellor & Provost Vice Chancellor & CFO Vice Chancellor, External Affairs Vice Chancellor, Legal Affairs Manager, Administrative Policies & Delegations