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HSU Policies

HSUAF 08-05 HSU Advancement Foundation - Administrative Cost Recovery Policy

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Month/Year Posted: 
07-2012
Policy Number: 
HSUAF 08-05

HSU Advancement Foundation

Administrative Cost Recovery Policy

Approved at May 28, 2008 Board Meeting
 
 
I. Purpose
 
To provide basic policy and authority for the recovery of administrative costs in providing management, accounting, data processing, insurance and related support service. Such a policy is needed to assure equity and general uniformity in the Foundation's costs recovery system.
 
II. Policy
 
The Foundation shall as a general policy recover the cost of administrative support services rendered to sustain Foundation operations.
 
A.        The Foundation Board shall annually review and adopt a General Administrative budget. The cost of administration shall be recovered through a budgetary allocation system.
 
B.        Foundation cost recovery methodology shall be through administrative fees.
 
C.        The annual administrative cost recovery fee will be one hundred fifty (150) basis points (1.50%) of the market value of all funds invested prorated at of the end of each fiscal quarter. 
 
D.        The Finance Committee will review the cost recovery methodology and recommend adjustments to the Foundation Board as needed. The Foundation Board is solely responsible for approving all cost recovery fees.
 
E.         The Foundation Board reserves the right to modify this policy at any time.

 

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