Restricted Legacy Funds

Find out about the different types of restricted legacy funds.

Restricted funds are current funds on which restrictions are imposed by an external entity, such as a federal agency or a private donor. The two primary types are sponsored projects and endowment income

Sponsored projects:

• Are funded by private corporations, individuals, and federal, state, and local governments
• Support research and other projects performed by the University
• Are in the form of contracts, grants, or gifts

The money supporting these projects and the agreements on how that money will be spent are called "sponsored project awards." Generally, one or more individual funds are established for each sponsored project award. Sponsored project funds are grouped in fund number ranges by type of award and awarding agency.

The restrictions associated with these funds vary by fund source. The Office of Post Award Financial Services (OPAFS) provides support in the administration of sponsored project awards.

Endowment income funds

Endowment income funds are generated by endowments to the University. These funds are always considered restricted and are administered by Internal Controls & Accounting.