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Internal Controls for Cash, Checks, and Other Gifts Policy


Most gifts are solicited through personal requests or through a proposal by a member of the College Relations Office. In addition, there are Fund for Davidson campaigns sponsored by the Living Endowment (general unrestricted), the Davidson Athletic Foundation (DAF), and WDAV (radio station). Typically, gifts and grants are channeled through these departments; although, gifts may be received by any department of the college. All gifts, regardless of the recipient department, are processed by the Advancement Services Office.


This policy seeks to inform employees, donors, and potential donors of the internal controls used to secure gifts made to the college.


All gifts received by any college department shall be immediately forwarded to the Advancement Services Office.

All checks received by Advancement Services Office shall be recorded and sent for deposit to the Office of Business Services as soon as possible.

Stocks, bonds and other non-cash instruments shall be valued by Advancement Services Office in accordance with the gift acceptance policy.

Gifts-in-kind must be approved in accordance with the gift acceptance polity prior to entry.

All checks, cash, and credit card information shall be kept in a safe in the Gift Records Specialists' office. The safe shall be kept locked unless one of the Specialists is in the office.

Administration of Policy

The Operations Associate Director shall oversee this policy and review it at least once every two years. Changes to this policy shall be made in accordance with the college's Gift Acceptance Policy and Policy on Policies.

All tax-deductible gifts received by the college are entered by Advancement Services staff into Davidson's database of record. The date, gift purpose (designation), amount, and payment type (stock, cash, check, credit card or other means)) are entered on the donor's record.

A preliminary remittance report will be printed in order to compare the individual gift amounts to the donor's information per the report. A tape is run on all the checks, and a final transmittal report is generated when the totals balance. The final transmittal assigns receipt numbers and updates the donor's individual record. The gift information is then securely pushed to the finance office's database of record through an automated database process. All checks and a copy of the transmittal report are forwarded to the business office where the related bank deposit is prepared. A gift receipt list is created and shared with departments for use in gift acknowledgement/receipting.

Last Revised: September 16, 2015